Orpea: Oddo BHF maintains 'underperform' rating
(CercleFinance.com) - Oddo BHF maintains its Underperform rating on Orpea shares, with an unchanged target price of E0.
5 (cp: E1.7, flat).
Yesterday evening, Orpea announced that it had sold 22 facilities in the Netherlands to Amvest Living & Care Fund for E85m.
Oddo BHF says that the Netherlands accounted for just under 4%e of Orpea's revenues last year, and could therefore be considered a "non-core" country. This decision should therefore have little impact on short-term earnings, the analyst says.
This news shows that the group's new strategy is being deployed - although it is not enough.
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