Barclays Lowers PT on Nomad Foods Limited (NOMD) to $18 From $20

Nomad Foods Limited (NYSE:NOMD) is one of the best undervalued defensive stocks to buy according to analysts. On August 8, Barclays lowered the firm’s price target on Nomad Foods Limited (NYSE:NOMD) to $18 from $20, keeping an Overweight rating on the shares.

The firm told investors in a research note that Nomad Foods Limited (NYSE:NOMD) lowered its 2025 guidance again due to historically hot weather in Europe.

The firm released the rating after Nomad Foods Limited (NYSE:NOMD) reported its fiscal Q2 2025 earnings on August 6. It reported a 0.8% decline in revenue to €747 million when compared to fiscal Q2 2024.

Organic revenue declined 1.1% with a volume decline of 1.0%, while adjusted gross margin contracted 310 bps. The company also reported an adjusted EBITDA decline of 7.2% to €129 million.

Nomad Foods Limited (NYSE:NOMD) is a frozen food company that sells pizza, poultry, meat, fish, vegetables, and ice cream under the Birds Eye, Ledo, Frikom, iglo, and Findus brands. It manufactures and distributes its products in over 16 European countries.

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Disclosure: None. This article is originally published at Insider Monkey.