Eurazeo: stock outperforms, an analyst raises TP

(CercleFinance.com) - Eurazeo are outperforming the Paris market on Monday morning, the French investment company's share price being supported by Berenberg's comments, which decided to raise its target price for the stock.


In its morning comments, the broker emphasized that the asset management specialist's recent performance indicators point to a turnaround at operational level.

Eurazeo has benefited from a clear improvement in its performance at the end of the year, a favourable momentum that supported both the asset management and investment businesses, the analyst said.

The company also ended the year on a solid note in terms of fundraising, which bodes well for fee growth in 2024, he adds.

In its note, Berenberg says it expects this positive momentum to continue this year, and even anticipates a ramp-up in the group's business, leading it to raise its price target from E90 to E100, while maintaining its buy recommendation on the stock.


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