Danone: Crédit Suisse cuts target price
(CercleFinance.com) - Crédit Suisse has reinstated its "outperform" rating on the Danone share, although has reduced its corresponding target price by 5% to 62 euros, the day after it announced restructuring and a cost reduction plan of one billion euros.
"In our view, the current valuation is punishing the company for its past mistakes and not giving enough credit for the quality of its portfolio nor for the positive aspects of the refresh," the broker says, which nevertheless is cutting its estimates for the group's margin and EPS.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
"In our view, the current valuation is punishing the company for its past mistakes and not giving enough credit for the quality of its portfolio nor for the positive aspects of the refresh," the broker says, which nevertheless is cutting its estimates for the group's margin and EPS.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.