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Beiersdorf price target lowered to EUR 152 from EUR 158 at Jefferies
Jefferies analyst David Hayes lowered the firm's price target on Beiersdorf to EUR 152 from EUR 158 and keeps a Buy rating on the shares. While the theme of the day for the company's Q3 results was "good enough," the firm would add in "top-tier" with the season now behind us. Beiersdorf is insulated from the worst of the broader beauty slowdown due to its China underweight and ambitious innovation pipeline, the analyst says, adding that the firm cut its FY24 earnings per share estimates.