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Investing.com - JPMorgan has upgraded Geberit AG (SIX:GEBN) from Underweight to Neutral and raised its price target to CHF600.00 from CHF500.00, citing the company’s strong performance and limited catalysts for a potential de-rating.
The Swiss sanitary products manufacturer has outperformed expectations this year, with like-for-like growth now expected to reach 4.5%, recently upgraded from around 4% during the third quarter.
JPMorgan noted that Geberit continues to gain market share through continued investment and presence in its markets, along with new product sales, supported by what it describes as a strong management team.
The company’s guidance now forecasts sales growth in local currencies of 4.5% versus previous expectations of around 4%, while EBITDA margin expectations remained unchanged at approximately 29%.
JPMorgan has revised its estimates for Geberit, now projecting like-for-like fiscal year 2025 sales growth of 4.5% with EBITDA increasing by 0.5% to CHF924 million, implying margins of 29.3% compared to its previous estimate of 29.2%.
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