Baader cuts HelloFresh, forecasts slowdown in sales

** Baader cuts HelloFresh HFG to "add" from "buy", citing the German meal kit provider's weaker-than-expected Q2 results that prompted a guidance cut earlier in August

** The broker points to declines in sales driven by a slowdown in the North American market and lowers HelloFresh forecasts for 2025

** Baader now expects sales in the year at 7.0 billion euros ($8.19 billion) against 7.1 billion seen earlier, and EBIT at 19 million euros, down from 52 million

** It also revises its EBIT estimate for 2026 to 106 million euros from 129 million

** It notes the company's "ongoing difficulty in acquiring new customers at a sustainable pace"

** Furthermore the broker points to cost pressures arising from marketing spending as well as facility expansions

** Out of 17 analysts covering the company, nine rate the stock a "strong buy" or "buy" and eight rate the stock "hold"

($1 = 0.8542 euros)