Jefferies analyst Martin Deboo lowered the firm’s price target on Strauss Group to ILS 75 from ILS 88 and keeps a Hold rating on the shares following Q3 top line miss. The firm continues to see profit recovery to be the near-term challenge for Strauss. With inflation driven growth in Brazil to in 2023 unlikely to be as contributory, FY24 is to be a year of muted growth in Jefferies’ view. Distraction from unsettling local conflict is likely to delay any potential positive catalysts, the firm adds.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on SGLJF:
- Strauss Group price target lowered to ILS 90 from ILS 94 at Barclays
- Strauss Group Reports Results for the Third Quarter and First Nine Months of 2023: Quarterly revenues were up c7% to NIS 2.7 billion, with operating profit totaling NIS 212 million and net profit rising to NIS 120 million
- SGLJF Upcoming Earnings Report: What to Expect?