Berenberg resumes Viscofan with 'buy' on market share gain potential

Viscofan SA

09/09/2024 09:27

** Berenberg reinitiates coverage of Viscofan  VIS.MC  with
"buy" saying it considers the Spanish meat packaging maker a
"market leader with potential to gain further share"
    ** Compared to peers, Viscofan's superior know-how in
manufacturing casings, better geographical footprint and higher
investments in capacity expansion have led to continued market
share gains in the past eight years, the broker says
    ** It estimates the global customised sausage casings market
should grow at 4% CAGR between 2024 and 2028
    ** "While destocking limited growth in 2023 and H1 2024, we
forecast a rebound in growth in early 2025," it says
    ** The shares are up around 2%, on track for their best day
since the end of July if gains hold
    ** Out of 13 analysts that cover Viscofan, 12 rate the stock
"strong buy" or "buy"​ and one "hold" 
     

(Reporting by Matteo Allievi)
((Matteo.allievi@thomsonreuters.com))