Edenred: Berenberg cuts target price

(CercleFinance.com) - Berenberg announced on Thursday that it had lowered its target price for Edenred shares from E67 to E59, while maintaining its buy recommendation on them.


The analyst points out that the stock has lost almost 32% since it began tracking the stock last February, an underperformance he attributes, amongst other things, to fears surrounding possible regulation of the French meal voucher market.

The broker believes that this downturn more than reflects these concerns, as well as the current economic uncertainties, which he sees as an opportunity to reinforce positions in the stock.


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