Sodexo: Oddo cuts target price, awaiting further details
(CercleFinance.com) - While French catering group Sodexo has just unveiled a new 350 million dollar savings and cost plan, Oddo anticipates that the market will have a neutral reaction to this, pending details of the plan which should be unveiled from 2pm at its CMD.
The analyst has cut his EBIT estimate by an average of 8% over 2021/2022, with organic growth now expected to decline by -3.6% in 2021 (vs. +0.7% previously), with -20% in H1 (guidance -20/-25%).
The broker maintains its neutral rating on the share and has cut its corresponding target price from 58 euros to 55 euros: the share is currently up 1.7% at 56 euros.
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.
The analyst has cut his EBIT estimate by an average of 8% over 2021/2022, with organic growth now expected to decline by -3.6% in 2021 (vs. +0.7% previously), with -20% in H1 (guidance -20/-25%).
The broker maintains its neutral rating on the share and has cut its corresponding target price from 58 euros to 55 euros: the share is currently up 1.7% at 56 euros.
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.