Lindt & Sprüngli : Organic growth forecast at 5.5% in 2018, with 5.7% in H2
>Neutral recommendation maintained despite share price weakness - We are leaving our Neutral recommendation unchanged despite the fall in the share. With organic growth forecast at 5.5%, Lindt is set to continue to stand out from its European food HPC peers. But this outperformance looks largely priced into the 66% premium in terms of the fwd 12m P/E, given that the average stands at 60% over 10 years. Furthermore, there is still uncertainty around the integration of ...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.
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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