Elior: JPMorgan upgrades its recommendation to 'overweight'.

(CercleFinance.com) - On Friday, JPMorgan raised its recommendation on Elior shares to 'Overweight' from 'Neutral', while raising its target price from 3.
5 to 4.5 euros.

In a sector note, the research firm says it considers the French catering group's shares to be an interesting case to play with a view to a recovery.

The analyst highlights a risk/return profile deemed favorable after the 40% decline that followed the publication of its latest results.

Deeming this correction "excessive", the intermediary acknowledges that the company's forecasts may appear cautious, but stresses that the management team is, in his opinion, showing prudence.

JPMorgan also mentions the company's improving profitability trend, which it sees continuing, as well as the leverage enabling it to improve its competitiveness in the medium term.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.