Lindt & Sprügli: Oddo confirms rating

(CercleFinance.com) - Oddo confirms its Neutral rating on the Lindt & Sprügli stock, along with its target price of 68000 Swiss francs, after the group reported its FY 2018 results.


The broker's analysts say that 2018 diluted EPS is bang in line with its expectations of an increase of 6.8%, while the consensus was looking for 7.2% growth.

While underlying operating income (+7.0% with an OM of 14.8% at +20 bp) is also bang in line with the broker's estimates, it would like to point out that financial costs (-16.1 million Swiss francs vs. -13 Swiss francs expected) are higher. than expected, the broker says.

Management has said that in 2019 organic growth and growth in its OM should be in the medium-long term guidance range provided (5/7% and +20 bp/40 bp).



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