Lotus Bakeries Shares Rise as Jefferies Initiates at Buy

Jefferies has started coverage of Lotus Bakeries with a Buy rating and a price target of EUR 15,000, according to the broker’s research note. Shares in the Belgian company were up 6.2% at EUR 12,700 on Monday, putting Jefferies’ target roughly 18% above the current level.

Lotus Bakeries, the maker of the Biscoff caramelised biscuit and other bakery brands, is listed on Euronext Brussels.

In the note, Jefferies described Lotus Bakeries as one of Europe’s fastest-growing consumer compounders — a term for companies that grow earnings steadily and reinvest them to compound returns over time. The broker’s thesis rests on Biscoff’s transformation from a Belgian coffee-shop biscuit into what Jefferies sees as a genuinely global cookie brand, sold well beyond its European roots.

That framing underpins the Buy rating: Jefferies is betting that Biscoff’s international expansion can keep driving growth at a pace that justifies the target’s implied upside.

Monday’s move adds to the debate over how far the Biscoff brand can still expand globally, with Jefferies’ note giving the market a fresh benchmark for the stock’s valuation.