Vivendi: Oddo raises TP after good Q3 numbers
(CercleFinance.com) - With Vivendi publishing revenues of 4 billion euros yesterday evening - slightly above Oddo's forecast (3.
9 billion euros), the broker maintains its neutral rating on the stock, although has added 1 euro to its target price, which is now 25 euros (about its current price).
Vivendi benefited from UMG's performance in the third quarter, driven by good streaming figures, as well as Canal+, which benefited from the rebound in advertising revenues.
Overall, the broker says that it is pretty much sticking to its estimates.
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