Jefferies downgraded Danone (DANOY) to Underperform from Hold with a price target of EUR 56, down from EUR 66. The firm’s prior rating cut to Hold in September was premised on concerns that key contributors to sales growth and operating margin progression since 2022 were faltering, and Jefferies contends that a credibility-denting sales disappointment and margin miss await in 2025, the analyst tells investors in a research note.
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