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Philips : Q2 did not beat expectations, the stock looks fairly priced
>Q2: +100bp of adjusted EBITA margin but organic growth of 4% - Yesterday’s Q2 earnings report (see our flash “Q2 in line with expectations, with organic growth slightly lower than expectedâ€) has prompted some concerns given the weaker-than-expected top-line growth for Personal Health (PH) at 2.1%, after 3.7% in Q1, while the group usually targets mid to high-single digit growth for this division. This is all the more unsettling as the PH division is by far the group’...
Underlying
Koninklijke Philips
Provider
Oddo BHF
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.
Delphine Brault
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