Strauss Group price target raised to ILS 83 from ILS 75 at Jefferies

Jefferies raised the firm’s price target on Strauss Group (SGLJF) to ILS 83 from ILS 75 and keeps a Hold rating on the shares following the company’s Q1 earnings results. Jefferies noted that the company is continuing to navigate cocoa and coffee cost inflation, but the firm is optimistic of management’s “continued focus on productivity gains and cost initiatives,” and believes FY25 will be “another year of rebuilding profitability.” However, despite raising its price target the firm reiterated its Hold rating, citing uncertain demand elasticity and near-term cost inflation pressure.