Pluxee: Goldman Sachs downgrades to sell, target 18 euros

(CercleFinance.com) - On Monday, Goldman Sachs downgraded its recommendation on Pluxee shares to sell, with a 12-month target price reduced from 30.
5 to 18 euros.

In a note on French prepaid services players, Goldman indicates that it has switched to sell on Pluxee shares, preferring Edenred, which it continues to advise to buy.

The American broker explains that he is advocating a more "selective" approach to the sector after the recent fall in both shares, which he justifies by regulatory concerns, slowing growth and falling interest rates.

He believes that Pluxee has been one of the major beneficiaries of rising inflation and high interest rates, both of which, in his view, are set to fade after having contributed strongly to its growth.

The broker, who believes that consensus forecasts for 2025 and 2026 may still be too ambitious, has consequently lowered his target on the stock.

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