Lagardère: Barclays confirms rating after results
(CercleFinance.com) - Barclays analysts confirm their Overweight rating on the Lagardère share, and have raised their corresponding target price to 31 euros after the group reported its 2018 results.
2018 results are in line with Barclays' expectations. Lagardère's operating profit came in at 401 million euros, up 2 million euros compared to the 2017 IFRS 15 restated figure (i.e. +399 million euros). Total net income amounted to 216 million euros, with net attributable income of 194 million euros.
For the record, Lagardère intends to sell several assets and reinvest the proceeds from the sale in publishing and Travel Retail (growth driver), with a preference for publishing.
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2018 results are in line with Barclays' expectations. Lagardère's operating profit came in at 401 million euros, up 2 million euros compared to the 2017 IFRS 15 restated figure (i.e. +399 million euros). Total net income amounted to 216 million euros, with net attributable income of 194 million euros.
For the record, Lagardère intends to sell several assets and reinvest the proceeds from the sale in publishing and Travel Retail (growth driver), with a preference for publishing.
Copyright (c) 2019 CercleFinance.com. All rights reserved.