Orange: share price down, analyst reduces target

(CercleFinance.com) - Orange is down nearly 1.
5% in Paris, as Oddo BHF announced this morning that it was maintaining its 'neutral' rating on the stock, while lowering its target price from 11.5 to 11.2 euros, due to a slight reduction in its estimates for the telecom operator 'following Q3 2024 (France, Orange Business)'.

The stock is currently trading on a P/E of 10-11 times, which seems to us to be fairly consistent, in this more uncertain period, with the historical multiple range (low point at 7-10 and high point at 18)", says the analyst in charge of the file.

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


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