AdVini: Invest Securities lowers its target

(CercleFinance.com) - While reiterating its 'buy' opinion on AdVini 'in view of its value character', Invest Securities has lowered its target price from ?25 to ?24, believing that 'uncertainty remains as to whether momentum will improve rapidly'.


'The expected rebound in business in the second half of 2023 has not materialized, with Advini suffering, like the sector, from a decline in volumes that is only very partially offset by price increases', points out the analyst.

Invest Securities has significantly lowered its 2023-25 expectations for the wine group, but with a limited impact on its price target, 'in line with the partial recognition of the group's heritage and medium- and long-term prospects'.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.