Eurazeo: Berenberg raises target, still buying

(CercleFinance.com) - Berenberg announced on Monday that it had raised its target price for Eurazeo shares from E90 to E100, maintaining its Buy recommendation on the stock.


In a study published this morning, the broker emphasized that recent performance indicators for the asset manager point to an operational turnaround.

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

It adds that the company also ended the year on a solid note in terms of fundraising, which augurs well for fee growth in 2024.

In its note, Berenberg expects this positive momentum to continue this year, and even anticipates growth in the group's business.


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