Sika: Stifel raises its target price on the stock

(CercleFinance.com) - Stifel maintains its Buy rating on Sika shares, with a price target raised from CHF 270 to CHF 300.


The broker reports that at its CMD (investor day) Sika confirmed its forecasts for fiscal 2024 and its strategic objectives for fiscal 2028.

However, the majority of Sika's end-markets are facing a difficult business environment', says the analyst, who consequently announces a reduction of its organic sales growth assumption for fiscal 2024 from +2.0% to +0.9%, as well as its EBITDA margin assumption from 20% to 19.5%.

Nevertheless, 'we believe that medium-term growth opportunities (more than) compensate for short-term headwinds', stresses the analyst firm.


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