UBS reiterates its 'sell' recommendation on Philips, but raises its price target from €15.4 to €16, a new target that still leaves 19% downside potential for the Dutch medical technology group's shares.

Targets for 2025 are positive, but weak fourth-quarter margins and the weight of the second half of the year make forecasts for 2024 difficult, and adjustments seem increasingly persistent", the broker believes.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.