Valeo: Oddo confirms rating on share
(CercleFinance.com) - Oddo believes that the group's targets for 2022 are a far cry from its previous aims, which seems to confirm the growing difficulty of combining technology and financial performance.
The broker says that the stockmarket rebound in H2 seems difficult to justify by the group's fundamentals that will remain tight (Oddo BHF's estimates are 13% below expectations in 2020), which underpins its belief that the share's valuation is currently excessive, analsts say.
Oddo therefore confirms its Reduce rating on the share, along with a target price of 25 euros (about 22% downside potential. The share is currently down about 1%.
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