Share price down, UBS lowers forecasts

(CercleFinance.com) - The share price ended the day down sharply (nearly -1.
7%) after UBS revised its forecasts downwards.

'Lower traffic estimates and higher operating expenses lead to EBITDA revisions for the 2024/2025/2026 financial years of -1.5%/-1.3%/-1.3%' says UBS.

UBS confirms its neutral recommendation on the stock, with an unchanged target price of E130.

Augustin de Romanet, Chairman and CEO of ADP, said at the time of the results presentation: 'The objective of EBITDA growth of at least 4% in 2024 is confirmed, as are our other assumptions, forecasts and objectives for 2024 and 2025'.

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