Ipsos: Berenberg reduces target price

(CercleFinance.com) - Berenberg announced on Monday that it had lowered its target price for Ipsos from E87 to E85, while renewing its buy recommendation on the pollster's stock.


In a research note, the German broker explains that the French group's level of activity for H2 seems to be "at risk" in view of the current climate of economic and political uncertainty.

As a result, it is reducing its organic growth and operating margin forecasts for 2024, which are now set below Ipsos' own forecasts of +3% and around 13% respectively.

Stressing, however, that the risks surrounding the group's business are mainly concentrated in Q4, the analyst says he has ruled out any immediate threat of a new profit warning.


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