FDJ: Oddo BHF reduces TP
(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on La Française des Jeux shares, with a target price lowered from E36 to E34, with FDJ publishing its H1 results on after trading on 25 July.
Analysts expect H1 sales to rise by 7.5% to E1,388m, 2% above the VA consensus of E1,364m. Oddo BHF estimates implied sales growth of 7.7% in Q2.
The analyst points to regulatory uncertainties, notably in connection with the Kindred acquisition (potential approval is expected by the end of July from the French competition authority (AdlC)) and to a potential increase in gaming taxation in the Netherlands.
According to the broker, the stock nevertheless benefits from a resilient growth profile and a healthy balance sheet enabling a regular return to shareholders.
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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.
Analysts expect H1 sales to rise by 7.5% to E1,388m, 2% above the VA consensus of E1,364m. Oddo BHF estimates implied sales growth of 7.7% in Q2.
The analyst points to regulatory uncertainties, notably in connection with the Kindred acquisition (potential approval is expected by the end of July from the French competition authority (AdlC)) and to a potential increase in gaming taxation in the Netherlands.
According to the broker, the stock nevertheless benefits from a resilient growth profile and a healthy balance sheet enabling a regular return to shareholders.
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.