Henkel price target lowered to EUR 79 from EUR 80 at Jefferies

Jefferies lowered the firm’s price target on Henkel (HENKY) to EUR 79 from EUR 80 and keeps a Hold rating on the shares, citing “weaker consumer volumes amid intense private label and promotional pressure.” Jefferies expects margin expansion to pause with “limited top-line leverage and prior savings tailwinds, with reinvestment becoming increasingly critical to ramp up innovations and offset slowing price-led growth,” and sees the potential for Henkel to pursue external growth, given its “ample cash position.”