Orange: Oddo BHF cuts TP

(CercleFinance.com) - While maintaining its 'neutral' rating on Orange shares, Oddo BHF has lowered its target price for them from E11.
5 to E11.2, due to a slight reduction in its estimates for the telecom operator following Q3 2024 (France, Orange Business).

The stock is currently trading at a P/E of 10x-11x, which anaalysts believe is fairly consistent, in this more uncertain period, with the historical multiple range (low at 7x-10x and high at 18x), the analyst says.

Oddo BHF adds that an increase in its target will require continued growth in France for another two quarters or so, the stabilisation of Orange Business and - unlikely at present - a possible consolidation of the French market.


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