Wendel: share price up, broker raises target

(CercleFinance.com) - Wendel is up more than 1% in Paris after Oddo BHF reaffirmed its 'outperform' rating on the stock, with a price target raised from 100 to 110 euros, believing that a disposal of Bureau Veritas shares 'would be beneficial to all', as Wendel's lock-up on its shares expires on October 6.


According to the research consultancy, 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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