Sodexo: Oddo raises price target

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on Sodexo, with a target price rise from 80 to 82 euros, in the wake of higher forecasts based on the service group's report for its third accounting quarter.


The analysts' firm now expects 15.9% organic growth for the year (compared to the preceding 15.2%) as the group has shown confidence with consensus expectations for the past quarter of approximately 11.6%.

Oddo also notes that Sodexo is trading on a P/E 12-month consensus of approximately 13x, i.e. a discount of 32% compared to the 10-year average, citing a risk-reward ratio on the share that it still considers as positive.

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