1124 GMT - Danone's stock outperformed peers and the market since the start of the tariffs turmoil, reflecting its defensive qualities and fully pricing in its potential for delivering profit improvements, Citi analysts say in a note. The French food company is not exposed to tariffs given that its dairy products, particularly fresh, need to be produced locally, they say. The analysts estimate that around 90% of Danone's products sold in the U.S. are produced locally. Added to that, the company is set to benefit from a positive birth rate data in China, which is expected to support sales growth soon, they say. Following the 17% sector outperformance, Citi downgrades Danone's stock recommendation to neutral from buy, and lifts the target price to 73 euros from 71.20 euros. The stock is up 0.7% at 71.7 euros. (michael.susin@wsj.com)
(END) Dow Jones Newswires
April 14, 2025 07:24 ET (11:24 GMT)
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