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Haleon a rare riser on tough day as Deutsche Bank hails resilience

Published: 09:54 02 Aug 2024 EDT

Haleon PLC - Haleon a rare riser on tough day as Deutsche Bank hilts resilience

Haleon PLC (LSE:HLN, NYSE:HLN) interim results showed its resilience and dependability in very tough markets, suggests Deutsche Bank. adding it deserves a higher rating.

“The stock has been strong into results and the positive margin performance, along with some low season improvement in respiratory sell-out, is supporting the stock.

The bank expects dilution impacts from M&A to build as we will some headwinds to gross margin from third-party cost increases verses slower pricing.

“However, Haleon is delivering in a sector where performance is very mixed and it should be modestly up today even after the recent rise, in our view. “

Shares were up 3% to 369p on a difficult day for markets.

Hold with a target of 340p is Deutsche Bank's view.

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