Elior: Bryan Garnier still a buyer, but cuts target
(CercleFinance.com) - Bryan Garnier reiterates its "buy" rating on the Elior Group stock, while cutting its fair value from 19.
5 euros to 17.5 euros, after the group made a third warning regarding profit and sales since the departure of Philippe Salle.
The broker said "It seems to be clear that there are some errors related to its management with too ambitious short and medium-term objectives, even if some of the adjustments result from temporary factors."
In line with management's new targets and pending the new business plan to be presented on 26 June, Bryan Garnier has reduced its estimates for the Contract Catering Services group.
Copyright (c) 2018 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.
5 euros to 17.5 euros, after the group made a third warning regarding profit and sales since the departure of Philippe Salle.
The broker said "It seems to be clear that there are some errors related to its management with too ambitious short and medium-term objectives, even if some of the adjustments result from temporary factors."
In line with management's new targets and pending the new business plan to be presented on 26 June, Bryan Garnier has reduced its estimates for the Contract Catering Services group.
Copyright (c) 2018 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.