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Compass: Oddo raises target price

(CercleFinance.com) - Oddo has confirmed its Neutral rating on the stock, although has upped its target price to 1,620 p (against 1,560 p).


Oddo notes a significant acceleration in business in Q4, with growth reaching +6.8% after +5.1% over the first 9 months. Business was boosted by North America and Europe.

The broker believes that the outlook for 2019 is fairly upbeat as a whole. It underlines confident comments in North America regarding the pipeline, and the solid trend in Europe. The only disappointing point is the group's sales in the Rest of the World.

Oddo is increasing its 2019 estimates, driven by the FX factors. It is raising its EPS estimates by an average of 2.7% over 2019/2020e, mainly boosted by recent FX factors.



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