Signify: Credit Suisse no longer a seller

(CercleFinance.com) - Credit Suisse has upgraded its rating on Signify shares to 'neutral' (from 'underperform'), having increased its target price for them to 50 euros (from 32 euros), after it increased its 2021-22 EBITA forecasts by around 15% on average for the Dutch lighting group.


The broker says its forecasts are broadly in line with the consensus, supported by the company's near-term targets and medium-term ambitions for future years.

"We see improving fundamentals in non-resi construction and further support from government infrastructure and green initiatives", Credit Suisse adds, which also deems the share's valuation as "undemanding".


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