Beiersdorf : No warning on 2021. Q3 at +4.3% l-f-l, slightly more modest than expected
>No warning on margins and guidance maintained but with more precision - Neutral recommendation maintained, with a target price of € 90. While the stock’s underperformance since mid-September was fuelled by fears of margin rebasement for 2021 (new CEO and inflation), this release did not bring the warning expected and management has fine-tuned its 2021 guidance. Management now expects organic growth of 8-10% for the group (7-9% in consumer and 11-13% for Tesa), with a...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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