Korian: Bryan Garnier upgrades from 'Neutral' to 'buy'.
(CercleFinance.com) - On Monday Bryan Garnier (BG) upgraded its rating on Korian from "neutral" to "buy," raising its fair value from 28 to 35 euros, following the "strategic changes" implemented by the group.
Despite an undeniably "challenging" financial year in 2016, the French retirement home manager managed to achieve its targets last year, BG argue in their report.
"Results optimisation will still take time, but Korian now seems to be in a good shape with adapted tools to improve its performances," the analysis states.
Moreover, the group's strategy is changing, BG underlines - particularly in real estate - with the adoption of a less dogmatic strategy that is more “asset smart” rather than “asset light.”
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