Bolloré : Oddo BHF adjusts its price target

(CercleFinance.com) - In the wake of Bolloré's half-yearly publication, Oddo BHF reiterates its "neutral" opinion on the share "pending a little more visibility on the use of cash", while adjusting its price target from 7.
2 to 6.5 euros.

The research firm justifies this reduction by taking into account the recent fall in UMG's share price (in which Bolloré holds 18.5% of the capital) and the fact that, following the fall in UMG's share price, the Group acquired an additional 0.5% of capital.

In our opinion, this is a tactical acquisition, and the group is not likely to increase its position significantly", says the analyst, who leaves his expectations virtually unchanged following half-year results in line with his expectations.

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