Report
Pierre Tegner

Lindt & Sprüngli : Net profit expected at -61% in H1: impact of lockdown during Easter period

>Why the stock is set to hold up despite what could be a disastrous first half - Neutral rating maintained with a target price revised to CHF 85,000 (vs CHF 78,900). Lindt & Sprüngli’s H1 2020 results, due to be reported next week (21 July before trading), could fuel the idea that the group has largely failed to show its capacity for resilience during the crisis, whereas the 12m fwd P/E of 42x (based on the consensus) seems to reflect an opposing view among investors....
Underlying
Chocoladefabriken Lindt & Spruengli AG

Chocoladefabriken Lindt & Sprungli is a holding company based in Switzerland. Co. and its subsidiaries manufacture and sell premium chocolate products. Co.'s products are sold under the brand names: Lindt, Ghirardelli, Caffarel, Hofbauer and Kufferle. Worldwide, Co. maintains eight manufacturing plants (six in Europe and two in the United States) and sells mainly in countries within Europe and the NAFTA countries.

Provider
Oddo BHF
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.

Analysts
Pierre Tegner

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