Henkel : Second warning on operating margin: apart from inflation, it is the question of pricing power and strategic dispersion
>Dead money - Neutral recommendation maintained with a target price of € 67. Fundamentally, we remain wary of a group that continues to pursue strategic dispersion (personal care, beauty, laundry and home care), which prevents it from developing a broader and deeper operational footprint (brands, channels, ranges, geographies, segments), even though this is a key factor of agility, particularly for navigating the inflationary context. The stock’s marked underperforma...Henkel business comprised of Laundry & Home Care, Beauty Care, and Adhesive Technologies. Co.'s Laundry & Home Care business unit include laundry and home care Branded Consumer Goods business. The Laundry Care business includes heavy-duty and specialty detergents, fabric softeners, laundry performance enhancers, and other fabric care products. Co.'s Beauty Care business unit is active in the Branded Consumer Goods business with Hair Cosmetics, Body Care, Skin Care, Oral Care, and professional Hair Salon business. Co.'s Adhesive Technologies business unit provides solutions with adhesives, sealants and functional coatings in two business areas: Industry; and Consumer, Craftsmen and Building.
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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