Wendel: Oddo BHF positive after investor day

(CercleFinance.com) - Oddo BHF reaffirms its 'outperform' rating on, and E110 target price for Wendel shares after Friday's 2024 investor day, which featured presentations by the management board and the CEOs of Stahl, Acams, Monroe and Globeducate.


We believe that the dividend could increase by around E1 a year (yield in excess of 5% on the basis of a E5 dividend expected for 2024), while the discount remains high (around 45%), the analyst says.

The risk/return ratio is attractive, particularly as Bureau Veritas is on the doorstep of the CAC 40 and remains undervalued in our opinion (penalised by expectations of a Wendel investment), it continues.


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