UBS confirms its buy recommendation on Danone and raises its target price to E72 (from E70), which represents a potential upside of 17%.

The analyst believes that Danone is "a story of transformation that is already bearing fruit".

"We believe that Danone can sustainably achieve organic EBIT growth of more than 8% per year over the next 4 years. This will lead to upgrades and revaluation' says UBS.

For 2024, Danone expects like-for-like sales growth of between 3% and 5%, as well as a moderate improvement in current operating margin.

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