Barclays has reaffirmed its 'weighted in line' recommendation on Henkel, with a price target raised from 72 to 76 euros, ahead of the first-quarter 2024 business update, for which it expects volumes to be similar to those of the final quarter of 2023.

Optimization of the portfolio should continue to impact volumes in laundry and household care, and we still expect the inflection point to come in 2025 at the earliest", believes the broker, who also considers the macro landscape to be unfavorable for adhesives.

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