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On Thursday, Kepler Cheuvreux adjusted its stance on Forbo Holding AG (FORN:SW), downgrading the stock rating from Hold to Reduce and revising the price target downward to CHF 790 from the previous CHF 885. The revision comes amid expectations of continued challenges in the company’s customer markets throughout 2025, which analysts believe will result in another transitional year without a notable improvement in operational performance in the second half of the year.
Martin Flueckiger, an analyst at Kepler Cheuvreux, noted significant reductions in earnings per share (EPS) estimates for Forbo Holding AG, averaging a 14.2% decrease for the forecast period of 2025-2027. Despite these adjustments aligning closely with the company’s qualitative guidance for 2025, Flueckiger expressed concerns that market consensus might still be overly optimistic regarding the company’s financial outlook.
The downgrade reflects the analyst’s anticipation of a sluggish trajectory for Forbo’s customer markets, which are not expected to provide an uplift for the company’s operational performance in the latter half of 2025. This outlook has led to the revised price target and stock rating, signaling a more cautious perspective on the company’s potential stock performance.
Kepler Cheuvreux’s revised assessment of Forbo Holding AG is based on the forecasted continuation of the company’s transition phase and the lowered EPS estimates. The reduction in the price target from CHF 885 to CHF 790 represents a notable shift in expectations for the company’s valuation.
The downgrade from Hold to Reduce suggests that Kepler Cheuvreux advises investors to decrease their holdings in Forbo stock, based on the analysis of the company’s projected performance and market conditions. The new rating and price target reflect the research firm’s latest analysis and projections for Forbo Holding AG.
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