Stifel has reiterated its 'hold' recommendation on Henkel, with an adjusted price target of 82 to 83 euros, believing that the stock should maintain its positive momentum for the publication of half-year results in August, following relatively reassuring comments.

In addition to improving volume trends for the Consumer Brands and Adhesive Technologies divisions, the broker says it remains 'constructive on the margin recovery' of the German consumer goods group.

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