DB cuts Beiersdorf to 'sell' on weak competitive position

Beiersdorf AG

09/09/2026 09:06

** Deutsche Bank cuts Beiersdorf BEIG.DE to "sell" from "hold", saying the Nivea maker is in a competitively weak position
** It says the German consumer goods group is vulnerable to growth of smaller beauty brands, which have the benefit of e-commerce distribution, and to the expansion of Chinese beauty brands globally, and especially in Southeast Asia
** DB says Beiersdorf is likely to have to maintain a high or higher level of investment to compete while using its balance sheet for M&A in order to improve the brand portfolio
** "Either way, the level of cost increase is probably not over with and the competition from large and smaller brands is intensifying," the brokerage says
** Out of 23 analysts that cover Beiersdorf, seven rate it "strong buy" or "buy",​ 11 "hold", and five​ "strong sell" or "sell" - LSEG data
** The stock falls 1.3% in morning trading, having shed more than 19% YTD

(Reporting by Paolo Laudani in Gdansk)
((Paolo.laudani@thomsonreuters.com))