Worldline: down sharply, broker lowers target

(CercleFinance.com) - Worldline is down nearly 6% in Paris, as Invest Securities has reiterated its 'buy' opinion on the stock while lowering its target price from 23 to 20 euros, in view of a valuation deemed 'derisory' after taking into account the new 2024 guidance (PE 2024-25 of 6.
9-4.7 times).

The analyst believes, however, that "the warning on 2024 results, however minimal, gives the impression of an eternal headlong rush, with one reason after another justifying organic growth and profitability far from their normative level".

In his opinion, the Investor Day (CMD) on November 26 'represents more of a risk factor than a catalyst, with the possibility that management will find a new reason in 2025 for the lack of performance improvement'.


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