Barry Callebaut: bullish after broker upgrade

(CercleFinance.com) - Barry Callebaut jumped nearly 7% on Tuesday in Zurich, buoyed by a recommendation upgrade directly from 'underweight' to 'overweight' by Barclays, with a price target raised from 1,450 to 1,800 Swiss francs.


The broker believes that the risk/return trade-off looks increasingly attractive for the Swiss chocolate maker's stock, pointing to the potential for further normalization of cocoa prices, as well as firm and tangible progress in cost reduction.

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