Barry Callebaut: UBS lowers its price target

(CercleFinance.com) - UBS believes that the price of cocoa beans has an impact on fundamentals, but this is being taken into account.
The analyst confirms his Neutral recommendation on the stock, but lowers his price target to 1100 Swiss francs (from 1590 Swiss francs). This new target still represents a 6% upside potential for the stock.

'Our baseline scenario is for cocoa bean prices to fall again, which should provide some support for investor sentiment, even if some challenges remain' says UBS.

The Group now expects sales volume for its 2024-25 financial year to fall to a percentage in the low single-digit range.

Since the beginning of the year, cocoa bean prices have accelerated considerably, penalizing market prices and demand', explains the group, which nevertheless confirms that it is targeting double-digit growth in recurring EBIT at constant exchange rates.

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