JCDecaux: Oddo BHF revises its target, still a buyer
(CercleFinance.com) - An analyst at Oddo BHF this morning says that he is cutting his target price target for the JCDecaux share, while maintaining a "buy" rating, anticipating a terrible year in 2020 year, although one that will "clean up" the (outdoor advertising) market.
The broker says that the group is approaching this crisis from a position of strength in comparison with its competitors. It is likely that some of them will quickly have liquidity problems and be unable to correctly respond to calls to tender. JCDecaux could then be opportunistic and consider acquisitions - small in the near term and possibly larger ones in the MT (Clear Channel?). This is why the broker considers that the current situation should "purify" the market and lead to a healthy concentration based on fundamentals.
Oddo BHF has therefore cut its corresponding target price from 30 euros to 25 euros, which still gives the share significant upside potential of 44%.
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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 broker says that the group is approaching this crisis from a position of strength in comparison with its competitors. It is likely that some of them will quickly have liquidity problems and be unable to correctly respond to calls to tender. JCDecaux could then be opportunistic and consider acquisitions - small in the near term and possibly larger ones in the MT (Clear Channel?). This is why the broker considers that the current situation should "purify" the market and lead to a healthy concentration based on fundamentals.
Oddo BHF has therefore cut its corresponding target price from 30 euros to 25 euros, which still gives the share significant upside potential of 44%.
Copyright (c) 2020 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.