Breaking News: UBS Analysts Reveal Bullish Forecast for Kerry Group PLC Stock (KYG:ID) - Price Target Set at €105.00!
In a recent report, UBS analysts have maintained a Buy rating on Kerry Group PLC (KYG:ID) (OTC: KRYAY) stock with a price target of €105.00. The firm is expecting Kerry Group to announce its third-quarter results for 2024 on October 24.
The analyst forecasts a 3.4% volume growth for the Taste & Nutrition (T&N) segment in the third quarter, surpassing previous estimates and consensus projections. At the group level, UBS projects a 3.7% organic sales growth (OSG) for the third quarter, driven by a year-over-year volume growth of 3.7% and stable pricing.
Meanwhile, Deutsche Bank has raised its price target for Kerry Group to €86.00, Barclays has upgraded the stock from Equalweight to Overweight with a new price target of €97.00, and Jefferies has revised its price target to EUR 86.00. These upgrades and positive outlooks highlight the company's strong earnings momentum and capital strategy.
InvestingPro Insights:
- Kerry Group has a strong track record of financial stability and reliability, with dividend payments for 33 consecutive years.
- The company's shares are trading near their 52-week high, reflecting positive sentiment and strong price momentum.
- With a market capitalization of $17.79 billion and a Price/Earnings ratio of 22.83, Kerry Group is attractively valued in the market.
- The company's Gross Profit Margin of 44.4% underscores its efficient operations and profitability.
In conclusion, Kerry Group PLC is poised for continued growth and profitability, making it an attractive investment opportunity for shareholders. Stay tuned for the upcoming earnings report on October 24 to monitor the company's performance and market reactions.
