Henkel: Stifel remains Hold, lowers target

(CercleFinance.com) - Stifel reiterates its "Hold" recommendation on the share, but lowers its target price to E88 (from E90) following the publication of the results.


"We have reduced our FY25-26E EBIT guidance for Henkel by 2% and our target price to E88 (from E90) following the publication of the FY2024 results and FY2025 guidance last week", says the analyst.

In its study of the day, Stifel believes that the difficult start to the year for consumer brands and an innovation calendar shifted to the second half should result in lower EBIT in the second half.

'At 13x P/E 2025, the valuation seems cheap to us and should limit the downside potential' adds the broker.

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