(CercleFinance.com) – Geberit sells nearly 1% to Zurich, while Oddo BHF confirmed this morning its “underperformance” opinion on the stock with a price target revised from 480 to 448 Swiss francs, the day after ‘a publication which shows a still high activity in the second quarter, but with a tendency to slow down.
‘Geberit has not lost its best-in-class qualities (strong adaptability, pricing power, margin that remains at high levels) but its exposure to Europe (91% of sales) and residential construction (60% of turnover) reduces the visibility of prospects’, he judges.
According to the research department, these seem to be adverse elements likely to weigh on the operational performance of the sanitary equipment group in the coming quarters, so it reduces its EPS estimates by 5% on average over 2022 and 2023.
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