Lindt & Sprungli: UBS still a buyer

(CercleFinance.com) - The analyst highlights the acceleration of the group's market share gains in tight markets.
It confirms its Buy recommendation, with an unchanged target of 125,500 CHF, representing 15% upside potential.

The Group is recording market share gains and volume growth in its largest market, the US - but there is no doubt that 2024-2025 will be difficult years for the industrial sector, UBS says.

The company is on track to increase margins in 2024E despite the spike in cocoa prices, it adds.

For 2024, Lindt & Sprüngli expects organic sales growth of 6%-8% and a 20-40 bp improvement in its operating margin.


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