Ipsos: Oddo BHF very pleased with roadshow
(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on Ipsos shares, along with its E65 target price, considering that the market research group's business model as still solid (albeit complex), with the stock's valuation as "attractive".
From a roadshow in Amsterdam and Stockholm, the analyst notes that, according to management, the online versus offline migration, the development of consulting, the rise of Ipsos.digital and the US focus will continue to benefit margins.
As such, the stock remains a top pick in its Midcap Europe list, with it set to benefit from a rebound in organic growth (after the slump in H1), the maintenance of comfortable margins and synergistic acquisitions, the broker adds.
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