HENKEL: No positive top line inflection in H2 | NEUTRAL | EUR99 vs. EUR103 (+16%)
HENKEL - NEUTRAL | EUR99 vs. EUR103 (+16%)No positive top line inflection in H2
Adhesives: industrial production to show no recovery in H2
Beauty: destocking in China to continue in the rest of the year
Laundry & Home Care: more satisfying than the other divisions
Flat organic sales growth expected in 2019
Neutral reiterated
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.
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