Campari: Oddo BHF reduces target price

(CercleFinance.com) - Oddo BHF reiterates its 'underperform' rating on Campari shares, with a target price lowered from E7 to E6.
5, to take into account a new governance and operational risk relating to the managerial transition and its unfavourable timing.

The CEO's departure, as announced yesterday morning, raises the question of whether there is a divergence of views on the ability to pursue acquisitions while facing current operational challenges, the analyst says.

Given the transitional management in place, Oddo BHF believes that the scenario of an acquisition in India remains valid, but even less engaging for the market, whose positive sentiment on the Italian group is gradually eroding.


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