Geberit: Jefferies cuts TP

(CercleFinance.com) - Jefferies confirms its 'underperform' rating on Geberit shares, with a target price cut from 369 CHF to 355 CHF, after trimming its earnings estimmates for the group after the publication of its Q2 results.


While the sanitaryware manufacturer's results for this period were in line with expectations, the broker believes they also highlighted a likely deterioration in volumes, prices and margins in H2 2024.

However, as 2025 is still generally expected to be the year of recovery, we fear this could make it vulnerable to further earnings downgrades, making it difficult to justify Geberit's industry-leading multiple, it warns.


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