Beiersdorf : Results in line and 2023 guidance without major surprises
>Muted reaction expected - Neutral rating maintained (target price € 90) on a group that is moving in the right direction (diversification of its brand portfolio and ranges in the Consumer business segment). But the valuation (23e PER: 30x) limits upside in our opinion. This morning’s release of good quality 2022 results is unlikely to prompt a big response in early trading, as the numbers are very much in line with expectations (at least for underlying EBIT) and the ...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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