Beiersdorf: Barclays remains positive, reduces TP

(CercleFinance.com) - Barclays reaffirms its 'overweight' recommendation on Beiersdorf shares, despite reducing its target price for them from E153 to E149, believing that it remains one of the fastest-growing European names in consumer staples.


The broker expects significant operational uncertainty for the second half of 2024, including the extent of the Epicelline launch, the roll-out of Eucerin facial care in the US and demand for sun care.

Barclays expects organic sales growth of 9.1% for the German cosmetics group's consumer business this year, but considers that visibility is unusually limited.


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