Wendel: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF has confirmed its 'outperform' rating on Wendel shares, having raised its target price for them from E100 to E110, believing that a sale of Bureau Veritas shares 'would be beneficial to all', as Wendel's lock-up on its shares expires on 6 October.


According to the broker, a sale of shares in the inspection and certification services group would give Wendel the means to achieve its ambitions (AM for third parties, but also direct investment and M&A support for the portfolio).

For Wendel-Participations, it would enable it to expect an exceptional dividend from Wendel, while an inflow of cash would be useful for its own objectives (family liquidity operation + constitution of reserves), it continues.


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