Wavestone: Oddo BHF lowers its target price
(CercleFinance.com) - While maintaining its 'outperform' rating on Wavestone, Oddo BHF has lowered its target price from E66 to E58, following the publication of lower-than-expected H1 2024-25 results and a larger-than-expected profit warning.
Following these announcements, it has revised its forecasts for the consulting firm: overall, this translates into a -6% downward revision of its EPS for 2024-25 (it anticipates a similar adjustment at consensus level).
The fall in the share price since end-October (-20%) suggests that the market (on the buy-side) already seemed to be anticipating a warning of this magnitude, the analyst says, adding that after revisions, the share is trading at a discount to relative sector levels.
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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.
Following these announcements, it has revised its forecasts for the consulting firm: overall, this translates into a -6% downward revision of its EPS for 2024-25 (it anticipates a similar adjustment at consensus level).
The fall in the share price since end-October (-20%) suggests that the market (on the buy-side) already seemed to be anticipating a warning of this magnitude, the analyst says, adding that after revisions, the share is trading at a discount to relative sector levels.
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.