BEIERSDORF: Disappointing guidance for 2021 as new investments are necessary! | SELL vs. NEUTRAL | EUR95 VS. EUR100 (+4%)
BEIERSDORF - SELL vs. NEUTRAL | EUR95 VS. EUR100 (+4%)Disappointing guidance for 2021 as new investments are necessary!
FY sales almost in line with expectations
FY 2020 EBIT margin down 140bp to 12.9%
More investments in 2021 imply disappointing guidance
Target price lowered to EUR95. Sell recommendation vs Neutral
Beiersdorf manufactures and distributes consumer goods. Co. operates in two business segments: consumer, which is Co.'s main business that focuses on the skin and body care markets, with products including NIVEA's Deodorant Invisible for Black & White, NIVEA Deodorant Stress Protect, NIVEA In-Shower Body Lotion, NIVEA Cellular Anti-Age face care, and Eucerin's VOLUME-FILLER; and tesa, which develops, produces, and markets self-adhesive products and system solutions for industry, craft businesses, and consumers. In the electrical industry, the tesa business segment's adhesive systems are used in mobile devices such as smartphones, tablet personal computers, and MP3 players.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.