Rothschild & Co: Oddo BHF still a buyer, but cuts target

(CercleFinance.com) - Oddo BHF has reinstated its "buy" rating on the Rothschild & Co stock, given upside potential of over 30% relative to its target price, even though it has cut this from 44 euros to 37.
5 euros.

The broker explains that the cut in its target price is mainly due to a reduction in its long-term dividend growth assumptions (+4.5% to +3% p.a.), to reflect the more likely slowdown in business.

The roadshow held with management reinforces the broker's valuation approach by dividends, even though less favourable economic conditions lead it to be more cautious about results and growth over the long term, said the analyst who monitors the share.



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