Vivendi: Bryan Garnier initiates coverage with 'sell' rating

(CercleFinance.com) - Bryan Garnier initiates its coverage of the Vivendi stock with a "sell" rating and a fair value of 21.
8 euros, which suggests 6% downside potential for the share of the parent company of Universal Music and Canal+.

The broker considers that the share's performance over recent months has been driven by the music segment, although it believes that this now represents more threats than opportunities.

"Since the market has also already captured the majority of the turnaround at Canal+, we see no new catalyst and expect no significant mobilisation by investors around the share in the short term," the broker said.


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