Lagardère: hit by a broker downgrade
(CercleFinance.com) - Down 1.
8% today, the Lagardère share is significantly underperforming the SBF 120 index (-0.7%), with analysts at Morgan Stanley downgrading their buy rating on the share.
Indeed, analysts have downgraded their buy ("overweight") rating, adopting a neutral stance ("weight in line"), having cut their corresponding target price from 29.5 euros to 28 euros. Indeed. specialists are concerned about the risks resulting from the acquisitions that the group could make in Publishing and Travel Retail. Morgan Stanley has therefore raised the conglomerate discount that it applies to the share to 10%.
The broker's report also notes that the group does not plan to make any additional returns to shareholders, and considers that the group has a "lukewarm" growth outlook.
Copyright (c) 2019 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.
8% today, the Lagardère share is significantly underperforming the SBF 120 index (-0.7%), with analysts at Morgan Stanley downgrading their buy rating on the share.
Indeed, analysts have downgraded their buy ("overweight") rating, adopting a neutral stance ("weight in line"), having cut their corresponding target price from 29.5 euros to 28 euros. Indeed. specialists are concerned about the risks resulting from the acquisitions that the group could make in Publishing and Travel Retail. Morgan Stanley has therefore raised the conglomerate discount that it applies to the share to 10%.
The broker's report also notes that the group does not plan to make any additional returns to shareholders, and considers that the group has a "lukewarm" growth outlook.
Copyright (c) 2019 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.