Barry Callebaut: share price soars, Barclays upgrades to buy

(CercleFinance.com) - Barry Callebaut shares ended the day with a gain of almost 7%, following a positive analysis by Barclays.


The analyst firm has raised its recommendation on Barry Callebaut from 'underweight' to 'overweight', with a target price raised from CHF 1450 to CHF 1800, judging that the risk/reward ratio looks increasingly attractive.

The broker points to the potential for further normalization of cocoa prices thanks to a more favorable harvest outlook, a growing outsourcing dynamic, as well as firm and tangible progress in the cost reduction program.

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