Berenberg sees De' Longhi's core businesses slowing down, cuts to 'hold'

Sharkninja

02/08/2024 09:02

** Berenberg cuts De' Longhi to "hold" from "buy" as it
expects the Italian home appliance maker's core businesses to
slow down in H2
    ** Freight costs are due to rise and the consumer
environment is still fragile, limiting scope for rising prices,
Berenberg says
    ** Broker also notes that competitor SharkNinja  SN.N  will
launch its first coffee machine later in the year
    ** As of 0740 GMT, shares of  De' Longhi are down 3.2%
    ** Out of nine analysts that cover De' Longhi, seven rate
the stock "strong buy" or "buy", ​two rate it "hold" 

 (Reporting by Philippe Leroy Beaulieu)
 ((Philippe.leroybeaulieu@thomsonreuters.com))