UBS maintains its buy recommendation on the stock and adjusts its price target to €200 (down from €205) ahead of the release of second-half 2025 results.

The analyst expects second-half 2025 EBIT to exceed forecasts by 2%.

"For the second half of 2025, we anticipate organic sales growth of 1.2% year-on-year and an improvement in the EBIT margin of approximately 180 basis points, compared to around 170 basis points in previous forecasts," UBS states in its report.

At the current price, the stock is trading at a 2025 P/E ratio of 25, with a yield of 2%.