(CercleFinance.com) – Barclays reaffirms its ‘overweight’ recommendation on Beiersdorf with an adjusted price target of 154 to 151 euros, the day after the German cosmetics group’s activity level for the first three months of the year.
Following high quality expectations exceeded and a conference with a confident tone, the broker raises its organic sales growth forecast for 2024 to 9.8%, up from 8.1% previously.
‘Operational momentum and visibility are strong at Beiersdorf, and we now view it as one of the highest quality names in the European consumer staples sector,’ he adds.
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