Bonduelle: Oddo BHF slightly reduces its target

(CercleFinance.com) - Oddo BHF confirms its 'neutral' rating on Bonduelle shares, with a price target slightly reduced from 12 to 11.
5 euros.

Last night, Bonduelle reported quarterly sales of ?645 million, while Oddo BHF was expecting ?680 million. The 5% deviation from our forecast is due to a more negative currency impact than expected, linked to the depreciation of the ruble (-40% in H1)", the analyst points out.

Bonduelle has not confirmed its annual guidance, indicating only that it will communicate its outlook for sales growth and profitability for the 2023/24 financial year when it presents its results on March 1.

We are still waiting for a new guidance to refine our annual figures", says Oddo BHF, which also believes that "the suspension of guidance could be misinterpreted by the market at a time when the share price, which is down 20% over 12 months, is practically at its lowest level in 20 years".


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