Orange: Oddo BHF cuts TP
(CercleFinance.com) - While maintaining its 'neutral' rating on Orange shares, Oddo BHF has lowered its target price for them from E11.
5 to E11.2, due to a slight reduction in its estimates for the telecom operator following Q3 2024 (France, Orange Business).
The stock is currently trading at a P/E of 10x-11x, which anaalysts believe is fairly consistent, in this more uncertain period, with the historical multiple range (low at 7x-10x and high at 18x), the analyst says.
Oddo BHF adds that an increase in its target will require continued growth in France for another two quarters or so, the stabilisation of Orange Business and - unlikely at present - a possible consolidation of the French market.
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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.
5 to E11.2, due to a slight reduction in its estimates for the telecom operator following Q3 2024 (France, Orange Business).
The stock is currently trading at a P/E of 10x-11x, which anaalysts believe is fairly consistent, in this more uncertain period, with the historical multiple range (low at 7x-10x and high at 18x), the analyst says.
Oddo BHF adds that an increase in its target will require continued growth in France for another two quarters or so, the stabilisation of Orange Business and - unlikely at present - a possible consolidation of the French market.
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.