Exane BNP Paribas downgraded Philips to Underperform from Outperform with a EUR 17.50 price target. While headline risk from the consent decree is out of the way, the company’s legal risks could remain an overhang on shares until 2025 and overshadow operating momentum improvement in the diagnostics and treatment business, the analyst tells investors in a research note. The firm says Philips shares are “still not cheap” despite the recent selloff.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on PHG:
