Beiersdorf : Brisk Q3 momentum, prompting an increase in 2022 guidance
>Neutral rating maintained. The continuing momentum should be well received - The maintained strong momentum in organic growth, both in consumer and Tesa, should be welcomed alongside the upgraded 2022 targets. We maintain our Neutral recommendation. We continue to take a favourable view on the group’s operational redeployment on skincare with the aim to better cover the pyramid of ranges via several brands. However, the apparent P/E level (i.e. not restated for ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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