Jefferies analyst David Hayes raised the firm’s price target on Danone (DANOY) to EUR 66 from EUR 63 and keeps a Hold rating on the shares. The firm believes there was enough in last week’s Q3 results to keep faith in FY24 delivery. Key growth areas continued to perform, led by U.S. EDP and China SN. But Jefferies sees specific challenges for the growth sustainability into 2025 for U.S. Creamers and China infant formula. The Europe miss in Q3, and associated negative pricing, could also indicate the need for heightened investment, the firm adds, noting that hopes of midterm accelerated sales, or year-over-year margin progression may need to be contained.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on DANOY:
- Danone price target raised to EUR 73 from EUR 70 at RBC Capital
- Danone reports Q3 revenue EUR 6.83B vs. EUR 6.91B last year
- Danone confirms 2024 guidance
- Danone downgraded to Equal Weight from Overweight at Morgan Stanley
- Zoetis and Danone team on dairy industry’s approach to healthier cows.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
