Barclays has reaffirmed its 'overweight' recommendation on Beiersdorf, with an adjusted price target of €154 to €151, the day after the German cosmetics group's trading update for the first three months of the year.

Following a high-quality beat on expectations and a confident conference, the broker raises its forecast for organic sales growth in 2024 to 9.8%, from 8.1% previously.

Operating momentum and visibility are strong at Beiersdorf, and we now regard it as one of the highest-quality names in the European consumer staples sector', it adds.

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