David Hayes, an analyst from Jefferies, maintained the Buy rating on Puig Brands, S.A.. The associated price target was lowered to €21.00.
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David Hayes has given his Buy rating due to a combination of factors including the anticipation of Puig Brands, S.A.’s stock rerating to approximately 17 times its earnings. Despite a reduction in the third-quarter organic sales growth forecast to 3.8%, which is below the consensus of 6.0%, the company is expected to maintain momentum through the continued success of the Charlotte Tilbury brand in the second half of the year.
Although there is a noted slowdown in the fragrance category, particularly affecting the EMEA and Americas regions, the overall outlook remains positive. The company’s position at the lower end of the full-year guidance suggests potential for upward movement, supporting a Buy recommendation.
Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PUIG in relation to earlier this year.