1200 GMT - Royal Philips's stock is undervalued due to concerns about past problems, neglecting significant improvements in operations and earnings, UBS analysts say in a note. The Dutch health-technology company's management has made a significant turnaround in recent years, completing its sleeping device recall and major personal injury litigation. It also improved profitability and reduced debt, UBS says. UBS forecasts Philips's revenue to grow at the industry average of around 5% annually from 2025-29, with EPS increasing by an average of 10% a year. Philips's share fall of 11% alongside its 2024 results is unjustifiable, making it one of the cheapest stocks in European medtech, the analysts say. As a result, UBS changes its rating of the stock to buy from neutral. Philips shares are up 0.6% at 24.23 euros. (helena.smolak@wsj.com)
(END) Dow Jones Newswires
February 20, 2025 07:00 ET (12:00 GMT)
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