Danone: Gut health gets more weight while consumers lose it

Research evidence excerpt

Danone: Gut health gets more weight while consumers lose it

Equity Research

European Consumer Staples

15 May 2026

Danone

Gut health gets more weight while

consumers lose it

A new study in Nature Medicine supports Danone's 'gut bugs' DANO.PA/BN FP OVERWEIGHT

NEUTRALin weight-loss maintenance, which has key GLP-1 relevance EuropeanStaples Consumer

for consumers looking to maintain a healthy weight when Price Target EUR 81.00

coming off the medication. Consumers are increasingly Price (14-May-26) EUR 61.86 Potential Upside/Downside +30.9%

Source: Bloomberg, Barclays Researchrealising the link between gut health and overall health. OW.

TP €81

Warren Ackerman

Danone has been steadily repositioning itself around health, well-being and science - and +44 (0)20 3134 1903

this week’s new study in Nature medicine on Akkermansia muciniphila and weight-loss warren.ackerman@barclays.com

maintenance provides another useful proof point that the company is on the right side of Barclays, UK

the gut-health and metabolic-health opportunity. Imogen McCurley

+44 (0)20 3555 4999

In 2025, Danone acquired the Akkermansia Company (TAC), which discovered and

imogen.mccurley@barclays.com

developed the biotic strain Akkermansia muciniphila MucT . The study suggests this Barclays, UK

bacterium can help people keep weight off after dieting, with the Bloomberg article on the

Varshil Modi

subject (link to article) also highlighting the growing focus on weight maintenance after +91 (0)22 6175 3995

GLP-1 use. The key message is that probiotics are gaining credibility, and microbiome varshil.modi@barclays.com

science is becoming increasingly relevant to one of the biggest consumer health themes Barclays, UK

globally: weight management after weight loss.

Laurence Whyatt