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LEI - Leifheit AG News Story

€27.3 0.0  0.0%

Last Trade - 4:36pm

Sector
Consumer Cyclicals
Size
Small Cap
Market Cap £233.6m
Enterprise Value £199.8m
Revenue £214.5m
Position in Universe 551st / 1033

BUZZ-Leifheit: Berenberg downgrades to "sell"

Wed 15th August, 2018 8:36am
** Shares of Leifheit  LEIG.DE  down ~2.4 pct to 20 Euros
    ** Berenberg cuts rating to "sell" from "hold", after co.
reported H1 results  urn:newsml:reuters.com:*:nFWN1V502Z
    ** Says H1 numbers were poor and FY guidance hard to
justify; remain unconvinced that the "Volume" division can grow
    ** Says longer-term demand concerns, lower R&D spend, and
saturated market providing little basis for such strong H2
figures; says one more profit warning to come
    ** Combination of a trend towards e-commerce, squeezed
household incomes/supressed demand for high-end products and
switch in co's strategy towards being a market follower on
innovation lead us to believe stock is overpriced says Berenberg
    ** Over an entire day's 30-day avg volume through in early
trade
        

 ((aniruddha.c.thomsonreuters.com@reuters.net))
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