Lagardère: Oddo downgrades rating
(CercleFinance.com) - Oddo BHF has downgraded its rating on Lagardère to "reduce" maintaining its target price at 15 euros, considering that the operational and strategic momentum is insufficiently attractive in the near term to maintain its "neutral" rating.
There is a solid recovery at Lagardère Publishing, although the situation remains very difficult at Lagardère Travel Retail, the analyst says, who has cut his expectations for the group in 2020 to 2021 as a result of a more cautious forecast for Lagardère TR.
In addition, Oddo BHF still does not believe that Vivendi will make an offer for Lagardère, and continues to believe that the most likely situation is a status quo situation for several months or even quarters.
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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.
There is a solid recovery at Lagardère Publishing, although the situation remains very difficult at Lagardère Travel Retail, the analyst says, who has cut his expectations for the group in 2020 to 2021 as a result of a more cautious forecast for Lagardère TR.
In addition, Oddo BHF still does not believe that Vivendi will make an offer for Lagardère, and continues to believe that the most likely situation is a status quo situation for several months or even quarters.
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.