JDE Peets CMD: Launches new strategy and financial ambitions

Today, JDE Peet's will hold a CMD in Amsterdam where it will unveil its “Reignite the Amazing” strategy. The new strategy focuses on 3 big bets, including Peet's, L'Or and 10 local icons led by Jacobs. Additionally, the group is targeting € 500m in productivity savings, of which 50% is expected to be achieved by 2027. The group further also disclosed new LT targets, including an Adj. EBIT CAGR of 3-4% in FY26/27, 4-5% in FY28/29 and 5-8% between FY30/32. This compares to a mid-single digit organic EBIT target previously. The group further lowered its leverage target from 2.5x to 2.0x and will from now on favour shareholder remuneration over M&A. We reiterate our Buy rating and € 24.0 TP.