Lagardère: Oddo BHF remains 'neutral' after HBF takeover

(CercleFinance.com) - Oddo BHF maintains its "neutral" rating on the Lagardère stock, along with its target price of 28.
5 euros, the day after the acquisition of US group, HBF, which is specialised in "Travel Retail" in the US (catering) for 330 million dollars.

This transaction is an important transaction for Lagardère, with group management having repeatedly mentioned potential acquisitions in travel retail - however, we did not expect an operation of this size, said the analyst who monitors the stock.

According to the broker, the main strategic consequence is that a major deal in publishing now seems very unlikely in the near future - that is, unless Lagardère considers a transaction in securities around Hachette.



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