Edenred: Barclays, more cautious, downgrades its recommendation

(CercleFinance.com) - Barclays on Monday downgraded its recommendation on Edenred shares from 'overweight' to 'weighted in line', with a price target reduced from €61 to €36, saying it was more cautious about the prepaid corporate services specialist.


In a note released in the morning, the British investment bank believes that the issuer of meal vouchers will have to weather a turnaround that looks complicated.

We believe that the group is about to enter a period of regulatory adjustments and economic difficulties likely to weigh on its medium-term growth", warns Barclays.

"The stock may look cheap, but the risk/reward profile is well balanced at current levels", stresses the London-based bank.

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