UBS confirms its buy recommendation on the stock, with an unchanged target price of E72, representing a potential upside of 22% following the announcement of sales for Q1 2024.

The group posted sales of €6.79 billion, down 2.5% due to strongly negative scope (-5%) and currency (-3.2%) effects.

' A solid, broad-based performance in the first quarter, demonstrating the Group's progress and signalling further improvement over the coming quarters. The way is clear for operating EBIT growth of +7%' says UBS.

' Danone made a strong impression in the first quarter, with an improvement in gross operating margin (LFL) thanks to better volume/mix and higher prices ' adds the analyst firm.

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