Lindt & Sprüngli : Organic growth of 6.1% in 2019 with 6.0% in H2
>Neutral rating maintained - Against the backdrop of a strong polarisation of valuations in the food HPC sector in both Europe and the US, the P/E 2020e of 38x is legitimate for a stock that deserves iconic brand status, being strategically focused and operationally diversified. But it is hard to see the P/E expanding. In the short term, the share should continue to be supported by reassuring organic growth of 6.1% in 2019, slightly above the consensus forecast of 5.8...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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