Danone: UBS confirms its buy recommendation on the stock

(CercleFinance.com) - UBS confirms its buy recommendation on the stock, with an unchanged target price of E72, representing 22% upside potential following its Q1 2024 figures.


The group posted sales of E6.79bn, down 2.5% due to strongly negative scope (-5%) and currency (-3.2%) effects.

"Robust and broad based performance in Q1 showcasing group's progress & signals further improvement over the coming quarters. Clear path to 7%+ LFL EBIT growth", UBS says.

Danone made a strong impression in the first quarter, with an improvement in gross operating margin (LFL) thanks to better volume/mix and higher prices, it adds.


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