Worldline: Invest Securities no longer Buy

(CercleFinance.com) - Invest Securities has downgraded its target and opinion on the stock to Under Review (from Buy with a target of E20).
The analyst believes that the total lack of visibility no longer allows him to value the company.

'After this new profit warning and the departure of the historic CEO, we feel that the problem goes deeper than a simple growth crisis after an intense period of acquisitions (Equens, SIX and Ingenico)', says the analyst firm.

While the warning has a relatively limited impact on our expectations, it is above all the total lack of visibility which now predominates, and which leads us to fear that the Power24 plan will not be sufficient, and that further restructuring will be necessary' adds Invest Securities.

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