Sodexo: Oddo nudges up target price

(CercleFinance.com) - Oddo maintains its Outperform rating on Sodexo shares, adding a euro to its target price from 98 euros to 99 euros.


With Sodexo publishing its H1 2023 results before the market opens on 5 April, the analyst expects a solid H1 with revenues of E12,143m (+18.4%e as reported), in line with the consensus, with organic growth of +13.1%, above the consensus of 12.4%.

In addition, Oddo expects EBIT of E681m in H1 2023, in line with the consensus of E679m, i.e. a margin of 5.6%, up 40 bp.

Oddo expects organic growth of 9.7% for FY23e, compared to 8.3%e previously, just above the consensus of 9.5%.



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