|Over a week ago|
Danone agrees to sell plant-based nutritional products brand Vega » 12:0506/1706/17/21
Danone announced that it…
Danone announced that it has signed an agreement to sell Vega, the Canada and U.S. plant-based nutritional products brand, to funds managed by WM Partners, a U.S.-based private equity investment firm focused on the health and wellness industry. "The sale of Vega is part of Danone's continuous capital allocation optimization and of the strategic review of Danone's portfolio of brands, SKUs and assets announced in October 2020. The closing of the transaction is subject to customary conditions," the company said.
Danone downgraded to Underperform from Neutral at Exane BNP Paribas » 05:0106/1506/15/21
Exane BNP Paribas analyst…
Exane BNP Paribas analyst Jeff Stent downgraded Danone to Underperform from Neutral with a EUR 57 price target. Danone is likely in a "strategy vacuum" until next year and fiscal 2022 consensus estimates could see pressure given the "significant structural headwinds" facing the business, Stent tells investors in a research note.
Danone downgraded to Underperform from Sector Perform at RBC Capital » 05:1306/0906/09/21
RBC Capital analyst James…
RBC Capital analyst James Jones downgraded Danone to Underperform from Sector Perform with a price target of EUR 52, down from EUR 64. Incoming CEO Antoine de Saint-Affrique "can be the catalyst for revival," but "things need to get worse before they can improve," Jones tells investors in a research note. The analyst says Danone must reverse declines in brand investment and excessive price rises that have resulted in volume declines in six of the last seven years. Jones views the shares as overvalued at current levels.
Danone downgraded to Sell from Hold at Berenberg » 04:4505/2605/26/21
Berenberg analyst James…
Berenberg analyst James Targett downgraded Danone to Sell from Hold with a price target of EUR 55, down from EUR 60. The analyst believes new management "will struggle to solve the low growth of the increasingly commoditized categories to which Danone is exposed." The stock is "not as cheap as it looks" when factoring in dilution from the company's growth investments, and its key segments like infant formula and yogurt have deteriorated, says the analyst.
|Over a month ago|
Danone upgraded to Outperform from Neutral at Oddo BHF » 05:2105/2005/20/21
Oddo BHF analyst Pierre…
Oddo BHF analyst Pierre Tegner upgraded Danone to Outperform from Neutral with a EUR 71 price target.
Danone downgraded to Sell from Neutral at Goldman Sachs » 16:1905/1305/13/21
Goldman Sachs analyst…
Goldman Sachs analyst John Ennis downgraded Danone to Sell from Neutral with a price target of EUR 53, down from EUR 60. The analyst has near-term concerns regarding consensus earnings expectations due to demographic declines in the company's key geographies, most notably China, where new births fell by 18% in 2020. He takes a more conservative view on market share trends and reduced margin estimates for the Specialized Nutrition segment.
NY AG investigates toxic substances found in baby food sold in NY » 14:1604/2904/29/21
NSRGY, HAIN, DANOY
New York Attorney General…
New York Attorney General Letitia James launched a probe this week into several manufacturers of baby food regarding high levels of inorganic arsenic found in infant rice cereal products. In response to widespread concern regarding toxic metals found in baby food, Attorney General James requested information from the companies that make Gerber, Beech-Nut, Earth's Best Organic, and HappyBABY brands, to examine whether the infant rice cereal products that are sold in New York contain arsenic at levels exceeding the legal maximum under the law. Attorney General James is also seeking information about the advertising and promotion of the products to assess their compliance with New York's consumer protection laws. "No child should be exposed to toxic substances in their food," said Attorney General James. "Baby food manufacturers have a legal and moral obligation to ensure the safety of their products, and provide peace-of-mind to the parents who rely on their products every day. Through this probe, I am committed to protecting the health and wellness of the next generation." The Fly notes Gerber is a Nestle (NSRGY) brand, Earth's Best Organic is a Hain Celestial (HAIN) brand, and HappyBABY Brands is owned by Danone (DANOY). Reference Link
Danone downgraded to Hold from Buy at DZ Bank » 05:1404/2204/22/21
DZ Bank analyst Axel…
DZ Bank analyst Axel Herlinghaus downgraded Danone to Hold from Buy with a EUR 63 price target.
Danone has hired firm to conduct review of candidates for new CEO » 06:1004/2004/20/21
Danone said: "The…
Danone said: "The immediate priority of the new Chairman, together with the Board, is to lead the transition, including the search for a new Chief Executive Officer. An international executive search firm has been hired to conduct an extensive review of suitable external candidates. The Governance committee, led by Jean-Michel Severino, Lead Independent Director, is managing the day-to-day process."
Danone: FY recurring operating margin to be broadly in line with 2020 06:0904/2004/20/21