Exclusive Networks: Oddo BHF upgrades stock
(CercleFinance.com) - Oddo BHF upgrades Exclusive Networks from 'underperform' to 'neutral', with a target price raised from E20 to E23, following confirmation of a letter of intent from CD&R and Permira at a price of E24 per share (cp: E23.
4, -1%).
While acknowledging that the low premium offered may appear disappointing to some long-term investors, the broker considers that it is not really surprising, and that the offer correctly values the cybersecurity specialist.
The launch of a takeover bid at E24 would be the most enviable short-term option for the minority shareholder, who would benefit from an immediate window of liquidity and avoid the possible pressures of successive placements, the analyst believes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
4, -1%).
While acknowledging that the low premium offered may appear disappointing to some long-term investors, the broker considers that it is not really surprising, and that the offer correctly values the cybersecurity specialist.
The launch of a takeover bid at E24 would be the most enviable short-term option for the minority shareholder, who would benefit from an immediate window of liquidity and avoid the possible pressures of successive placements, the analyst believes.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.