The analyst believes that "the share is finally on the right track, but there is still a long way to go. The 2023 results are in line with objectives'. He remains neutral on the stock, but raises his target price to E75 (from E70), which represents a potential upside of 9%.

' Results are broadly in line for FY 2023 and the confident outlook suggests that a new strategy is gaining ground; but it is too early to be convinced of significant future earnings ' says UBS.

' With EPS for fiscal 2023 broadly in line, we expect the consensus for fiscal 2024E to remain stable, with an increase in LSD with the company's new directions ' adds the analyst firm.

For 2024, Henkel anticipates EPS up 5-20% (at constant exchange rates), an EBIT margin of 12-13.5%, as well as organic sales growth of 2-4%.

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