Danone: Oddo still on hold

(CercleFinance.com) - Oddo maintains its "neutral" rating on Danone shares, with an unchanged target price of 59 euros (current price: 60 euros, +1%).


Since the announcement of the departure of Emmanuel Faber and the search for CEO outside the group, investors remain in expectation, the broker said, which expects sales of 5,606 million euros, down 10.2%.

As a result, the broker firm is reducing its current diluted EPS forecast for 2021 and 2022 by 4% and 6%, notably due to a strong currency effect (-3% in 2021, including -5% in H1).

For 2022, our forecasts point to a rebound of 11%, but this remains very hypothetical at this stage, the analyst concludes.


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