Beiersdorf up on 9-month sales growth, upbeat Q4 outlook
** Shares in Nivea maker Beiersdorf BEIG.DE rise 1.5% in early Frankfurt trade after the company reported 9-month sales growth, stayed upbeat on Q4 despite China weakness
** Analysts at J.P. Morgan point to the confirmation of 2024 guidance and "importantly" to management's expectations for a strong performance in Q4
** "While Q3 came in short of consensus, we believe the bar has come down given several misses in the beauty sector," the broker says, deeming the 5.6% like-for-like growth in consumer segment "solid"
** A slowdown in Chinese consumer demand amid a weak economy has hit the luxury sector, weighing on quarterly sales at French peer L'Oreal OREP.PA and industry bellwether LVMH LVMH.PA, among others
** Overall the stock should react positively given the resilient Q3 and differentiated message on Q4 outlook, which reads positively - JPM
Reporting by Linda Pasquini
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