Ipsos: Oddo BHF remains very positive after a roadshow
(CercleFinance.com) - Oddo BHF reaffirms its 'outperform' rating and 65 euro price target on Ipsos, considering the market research group's business model to be 'still solid (albeit complex)' and its valuation to be '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'.
The stock remains on our top pick list Midcap Europe, to benefit from the rebound in organic growth (after the first-half blip), the maintenance of comfortable margins and synergistic acquisitions", he adds.
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