Vivendi: Oddo BHF upgrades stock

(CercleFinance.com) - Oddo BHF has upgraded its rating on Vivendi from "neutral" to "outperform," having increased its corresponding target price from 29.
5 euros to 34 euros (current price: 28.4 euros, +1.4%), in the wake of its expectations for UMG (Universal Music Group) and particularly for the "publishing" division.

The group has acquired several catalogues in 2019/20, which will increase profitability, the analyst notes, who values UMG at 40 billion euros and expects "very encouraging" guidance from UMG by the end of 2021.

The prospect of UMG's listing leads Oddo to update its NAV of Vivendi and identify upside potential of 20%. The recent purchase of shares by Financière de l'Odet is another positive signal, it adds.



Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.