Barry Callebaut: UBS maintains buy rating
(CercleFinance.com) - UBS reinstates its buy rating on the stock, also maintaining its target price of 2,600 Swiss francs, which suggests upside potential of 26% for the Swiss chocolate maker's shares.
"On track to deliver sound EBIT growth of c.10% y/y in FY 22E - next catalyst reassuring," analysts say.
Barry Callebaut says that it is confident in achieving its 2022-23 targets of an average of 5%-7% growth in volumes, with and EBIT growth in excess of volume growth in local currency, barring major unforeseen events.
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