Laurent-Perrier: Oddo BHF still a seller
(CercleFinance.com) - Oddo BHF maintains its "underperform" rating on Laurent-Perrier shares, with an unchanged target price of E130, while nudging up its EPS guidance following the champagne house's annual results.
Analysts still believe that the group's fundamentals remain solid, although momentum could be less favourable in the near term, thereby limiting earnings growth, the analyst warns, who also points to a high comparison basis.
The broker also believes that Laurent-Perrier's current valuation is high, trading at a premium of 22% to the CAC Mid 60 index, compared with its historic premium of 6%.
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