The analyst firm has raised its recommendation on the stock to buy (from sell), with a price target of E70 (from E47.5), representing a potential upside of 15% on the current price.

' The benefits of the in-depth transformation of the portfolio and marked reinvestments will become visible in 2024, leading to medium-term upgrades and reclassification' says UBS.

Danone said it now expects like-for-like sales growth of between +6% and +7% for the current year, compared with +4% and +6% previously, with a moderate improvement in current operating margin confirmed.

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