Oriflame Upgraded to Buy
1001 GMT [Dow Jones] Deutsche Bank upgrades Oriflame (ORI-SDB.SK) to buy from hold, citing a strong operational performance and recent share price weakness. Says the products and the catalogues seem to continue to work well, which should translate into healthy productivity and further sales force growth continuing into 2Q. However, adds negative currency changes in Russia, Ukraine and Poland and risk for delays with the launch in China could hurt sentiment. Reiterates SEK260 target price. Shares trade -1.1% at SEK236. (MKR)
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