M6: Oddo BHF cuts TP after results

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on M6 shares, with a target price lowered from E17 to E16 (cp: E13, +1.
4%), after M6 published annual results below analysts' expectations.

EBITA came in at E242m, compared with the broker's forecast of E278m (and the consensus of E250m).

The main difference with our expectations was the advertising performance in Q4, which was well below our expectations at around -7% (we were expecting stability), Oddo BHF points out.

All said, we have reduced our annual expectations for 2025 following this publication, the broker concludes.


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