(CercleFinance.com) – The stock is up 2% today after losing around 22% since January 1.
Stifel reaffirms its ‘buy’ recommendation on Geberit and lowers its target price from 800 to 700 Swiss francs, a new target implying a potential upside of 25% for the title of the Swiss manufacturer of sanitary equipment.
After the publication of Geberit’s annual results, the broker indicates that it has reduced its assumptions for the 2022 and 2023 financial years, by 4% and 5% respectively on turnover, and by 6% and 7% on profits.
Stifel, however, highlights the sharp fall in the stock market and a valuation below its historical average, as well as a strong pricing power for the group.
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