Henkel: Jefferies upgrades to 'buy'

(CercleFinance.com) - On Thursday Jefferies upgraded its rating on Henkel shares to "buy" (from "hold") and raised its corresponding target price to 110 euros (from 89 euros), saying that the German consumer products maker could be one of the beneficiaries of the cyclical recovery of the economy.


The US broker explains that the group should benefit from a more favourable comparison basis, but also from the beneficial impact that the reopening of beauty salons will have on its cosmetics division.

As for the adhesives division, the business should benefit from the electrification of the automobile and the rollout of 5G, an adhesive-intensive technology, it adds in its comments.

Jefferies also highlights the share's currently "undemanding" valuation.



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