Danone : Q3 results should be good quality but modest: l-f-l growth expected at 3.5%
>Outperform rating maintained - We maintain our Outperform rating with an unchanged target price of € 71. We continue to think that the share’s re-rating is likely to continue as and when the group moves forward with its refocusing agenda that will place it on a profitable and sustainable growth path. Our target price implies a P/E 2025e of 18x, which means at least preserving the P/E reached in the current year. The relatively modest level of organic growth that...Danone is engaged in activities in the global food and beverages industry. Co. operates in four markets: Fresh Dairy Products (Co. produces and sells yogurts, fermented dairy products and other fresh dairy products); Waters (Co. produces and sells natural waters as well as flavored and vitamin-enriched waters products); Early Life Nutrition (Co. produces baby formula, milk-and fruit-based desserts, cereals, small pots of baby food and ready-made baby food); and Medical Nutrition (Co. develops adult and pediatric clinical nutrition products to be taken orally, or through a catheter in the event of malnutrition related to illness or other causes).
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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