Danone's share price has risen by almost 1%, benefiting from a recommendation upgrade by UBS.

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

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

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

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