Eurazeo: share rises, as Goldman Sachs upgrades to buy

(CercleFinance.com) - On Monday morning, Eurazeo shares were one of the strongest performers on the SBF 120 index of the Paris Bourse, buoyed by a note from Goldman Sachs highlighting the asset management specialist's prospects for capital redistribution.


At around 11:30am, the stock was up 2.2%, back towards four-month highs, while the SBF index was down around 0.9% at the same time.

According to Goldman, the company is well on the way to successfully completing its transition phase, which will see it switch from a proprietary investment model to that of an alternative asset manager for third-party accounts.

The broker is also increasingly optimistic about the Group's ability to monetize its portfolio - which now stands at some E8.5bn - as illustrated by the attractive conditions under which its latest disposals were carried out.

In its view, this factor could lead Eurazeo to further step up its share buy-backs, bearing in mind that the group is already forecasting returns of E2.3bn to shareholders over 2024-2027.

Goldman Sachs therefore upgrades the stock to 'buy' (from 'neutral'), with a target price raised from E83 to E91, giving it around 28% upside potential.


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