Wendel: Oddo BHF positive after investor day
(CercleFinance.com) - Oddo BHF reaffirms its 'outperform' rating on, and E110 target price for Wendel shares after Friday's 2024 investor day, which featured presentations by the management board and the CEOs of Stahl, Acams, Monroe and Globeducate.
We believe that the dividend could increase by around E1 a year (yield in excess of 5% on the basis of a E5 dividend expected for 2024), while the discount remains high (around 45%), the analyst says.
The risk/return ratio is attractive, particularly as Bureau Veritas is on the doorstep of the CAC 40 and remains undervalued in our opinion (penalised by expectations of a Wendel investment), it continues.
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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.
We believe that the dividend could increase by around E1 a year (yield in excess of 5% on the basis of a E5 dividend expected for 2024), while the discount remains high (around 45%), the analyst says.
The risk/return ratio is attractive, particularly as Bureau Veritas is on the doorstep of the CAC 40 and remains undervalued in our opinion (penalised by expectations of a Wendel investment), it continues.
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.