Analyst David Hayes from Jefferies maintained a Buy rating on Puig Brands, S.A. and increased the price target to €21.30 from €21.00.
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David Hayes has given his Buy rating due to a combination of factors including Puig Brands, S.A.’s strong performance in the third quarter, where they exceeded expectations with a 6.1% growth compared to the anticipated 4.9%. This growth was primarily driven by the makeup segment, particularly through the inventory build of Charlotte Tilbury products on Amazon in the U.S.
Additionally, the company has increased its guidance, now expecting to achieve growth at the midpoint of its 6-8% range for the fiscal year 2025, which is an improvement from the previous estimate of around 6%. Although the fragrance division experienced a slowdown as expected, it is anticipated to pick up momentum in the fourth quarter. The ongoing success of innovations and the expansion of Charlotte Tilbury further support the positive outlook, leading to an increased organic sales growth estimate of 6.8% for the year.
Hayes covers the Consumer Defensive sector, focusing on stocks such as DANONE SA, Reckitt, and Nestlé SA. According to TipRanks, Hayes has an average return of 1.2% and a 50.54% success rate on recommended stocks.
In another report released on October 23, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a €16.00 price target.