Edenred: Berenberg lowers its price target

(CercleFinance.com) - Berenberg announced on Thursday that it had lowered its price target for Edenred from €67 to €59, while maintaining its buy recommendation on the stock.


In a research note, the analyst points out that the stock has lost almost 32% since its initiation last February, an underperformance he attributes, among other things, to fears surrounding possible regulation of the French meal voucher market.

From the intermediary's point of view, this downturn more than reflects these concerns, as well as the current economic uncertainties, which he sees as an opportunity to strengthen positions in the stock.

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