JCDecaux: Oddo BHF on hold, trims TP
(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on JCDecaux shares, trimming its target price for them from E23 to E22.
Last night JCDecaux published Q3 organic sales growth of 11.1% (Oddo BHF expected +11.2%), while the group had guided on 10%.
The momentum was therefore good, but the group warns that it should slow down in Q4, and guides on low single-digit growth, the broker points out, which highlights that the group usually communicates on a more precise figure, which, according to Oddo BHF, illustrates a certain lack of visibility.
The trend is therefore a little more difficult than expected, probably reflecting a more difficult economic and advertising context in recent months, particularly in France, the analyst concludes.
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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.
Last night JCDecaux published Q3 organic sales growth of 11.1% (Oddo BHF expected +11.2%), while the group had guided on 10%.
The momentum was therefore good, but the group warns that it should slow down in Q4, and guides on low single-digit growth, the broker points out, which highlights that the group usually communicates on a more precise figure, which, according to Oddo BHF, illustrates a certain lack of visibility.
The trend is therefore a little more difficult than expected, probably reflecting a more difficult economic and advertising context in recent months, particularly in France, the analyst concludes.
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.