Voltalia: Oddo BHF still on hold
(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Voltalia shares, with an unchanged target price of E11.
4 (cp: E15, +1.6%), after the company announced the appointment of Robert Klein as CEO, replacing Sébastien Clerc, from 1 January 2025.
The analyst believes that Robert Klein's profile should reassure investors, having headed Voltalia Brazil for 18 years and overseen Voltalia's activities in Latin America and North Africa.
It is worth mentioning that no factual reason has been given for Mr. Clerc's departure (strategic divergence, depressed share price, etc.), the broker says.
Oddo BHF believes it would be premature to speculate on future growth trends, and possible changes in strategy. However, it is possible that this announcement will be seen by investors as an electroshock and will have a positive impact on the share price, the analyst argues.
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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.
4 (cp: E15, +1.6%), after the company announced the appointment of Robert Klein as CEO, replacing Sébastien Clerc, from 1 January 2025.
The analyst believes that Robert Klein's profile should reassure investors, having headed Voltalia Brazil for 18 years and overseen Voltalia's activities in Latin America and North Africa.
It is worth mentioning that no factual reason has been given for Mr. Clerc's departure (strategic divergence, depressed share price, etc.), the broker says.
Oddo BHF believes it would be premature to speculate on future growth trends, and possible changes in strategy. However, it is possible that this announcement will be seen by investors as an electroshock and will have a positive impact on the share price, the analyst argues.
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.