Oddo BHF reiterates its 'neutral' opinion on beiersdorf with a price target raised from €105 to €132, saying it was 'confident that management will continue to focus on skincare and further expand the operational footprint'.

This should bolster investor confidence in the Group's resilience to generate EPS growth of 7 to 8% over the medium to long term", says the analyst, who nonetheless sees this as "very well valued, not to say demanding", with a PE 2025 of 30.

In the short term, the share's performance should be split between the absence of any increase in medium-term targets and the scarcity of resilient consumer stocks in Europe given the political context", he continues.

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