Vivendi: Oddo BHF maintains 'buy' rating

(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Vivendi shares, with a price target raised from E13.
5 to E13.8.

The analyst reports that since the beginning of the summer, the share prices of TI and UMG have risen by 20% and 21.5% respectively: these two assets represent a value of 5.6 billion euros, or 67% of the group's current market capitalization.

At the same time, Vivendi's share price remained virtually stable (+1%). "While the valuation of other assets, notably Canal+ Group and Havas, has no reason to have changed, this leads to an increase in the discount. We estimate this to be 55% at present", stresses Oddo BHF.

The broker believes that the current, "particularly low" level is an attractive position to take on Vivendi.

Copyright (c) 2023 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.