Barry Callebaut: Berenberg reinstates coverage with 'buy'
(CercleFinance.com) - Berenberg on Thursday said it reinitiated coverage of Barry Callebaut with a "buy" rating and a price target of 2,600 Swiss francs.
In a note to clients, the brokerage firm said the Swiss manufacturer of chocolate and cocoa products, with the largest cocoa-grinding capacity globally, offers strong, volume-led growth with a resilient earnings profile in the current inflationary environment.
"Shares have struggled to gain momentum over the past few years but we believe the company's reliable growth and earnings outlook provide a solid foundation for a material re-rating," it added.
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