FRANKFURT (dpa-AFX Broker) - Beiersdorf shares continued their recent slide on Wednesday after critical analyst comments. The termination of a buy recommendation by Bank of America was coupled with the removal of the stock from a list of stock ideas by DZ Bank. The shares lost up to two percent in early trading, heading for their sixth consecutive day of losses. For the first time since January 2023, the consumer goods and adhesives group's shares temporarily fell below 108 euros.
Analyst Victoria Petrova of Bank of America mentioned that Beiersdorf was achieving above-average growth, but at the same time criticized the above-average valuation in her study. She lowered her earnings estimates slightly to a level below the consensus and expects only a modest recovery in profitability in the consumer sector in the coming year.
DZ Bank also expressed caution regarding the consumer division, expecting it to suffer from a slowdown in the skin care market in the second quarter and to see little growth. In this environment, analyst Thomas Maul sees too little potential for a rapid recovery in the share price and is therefore removing Beiersdorf shares from his list of "Equity Long Ideas." However, his rating remains "Buy."/tih/mis
-----------------------
dpa-AFX Broker - trader news from dpa-AFX
-----------------------
