Amundi: Oddo confirms rating
(CercleFinance.com) - Amundi has entered into exclusive negotiations with Société Générale to acquire Lyxor.
Amundi will hold 14% of the European ETF market with 142 billion euros. Meanwhile, Blackrock holds the lion's share, with 44%, Oddo says.
Amundi is positioned in a fast-growing segment that is characterised by a strong industrialisation of production, the broker adds.
Oddo confirms its Outperform recommendation on the stock, with a target price 80.2 euros.
Oddo believes that this long-awaited transaction should lead the consensus to increase its EPS estimates and target price. The impact should be close to the expected accretion of at least 7%.
Thanks to this acquisition, Amundi is moving further away from the "average" profile of European asset managers and this should be favourable for it, the broker adds.
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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.
Amundi will hold 14% of the European ETF market with 142 billion euros. Meanwhile, Blackrock holds the lion's share, with 44%, Oddo says.
Amundi is positioned in a fast-growing segment that is characterised by a strong industrialisation of production, the broker adds.
Oddo confirms its Outperform recommendation on the stock, with a target price 80.2 euros.
Oddo believes that this long-awaited transaction should lead the consensus to increase its EPS estimates and target price. The impact should be close to the expected accretion of at least 7%.
Thanks to this acquisition, Amundi is moving further away from the "average" profile of European asset managers and this should be favourable for it, the broker adds.
Copyright (c) 2021 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.