In a report released today, Max Yates from Morgan Stanley maintained a Hold rating on Signify NV (0RHI – Research Report), with a price target of €24.00.
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Max Yates has given his Hold rating due to a combination of factors impacting Signify NV’s financial outlook. The company’s first-quarter results were generally in line with expectations, but there was a slight miss in EBITA, which suggests potential challenges ahead. The confirmed guidance for 2025 provides some relief, yet the need for margin improvement remains a concern, especially given the current pricing pressures and tariff-induced costs.
Furthermore, uncertainties surrounding tariffs and their impact on pricing and competition add to the cautious stance. Although there are positive signs, such as sequential improvements in most business areas including China, these are tempered by the broader market conditions and challenges in Professional Europe. Thus, while there are areas of growth, the overall outlook remains mixed, justifying a Hold rating.
In another report released on April 11, UBS also maintained a Hold rating on the stock with a €22.00 price target.