Danone: Bryan Garnier still a buyer.

(CercleFinance.com) - Bryan Garnier reiterates its “buy” rating on the Danone stock, with a fair value of 78 euros, in a report on the main European agri-food companies.


The broker believes that visibility has improved for the French group, with the completion of the acquisition of WhiteWave and the investor seminar it held in mid-May.

Bryan Garnier expects a sharp 300 basis point improvement in its operating margin at constant exchange rates over the period 2016-2020, in line with Danone's new targets for 2020.

According to the broker, the momentum of revenue growth is expected to accelerate from the third quarter with the end of destocking at Mizone and a gradual improvement in fresh dairy products.


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