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Elior: Oddo BHF cuts TP after H1 results

( - Oddo BHF maintains its "underperform" rating on Elior shares, reducing its target price for them from E2.
8 to E2.6, following its heavily sanctioned H1 results, along with the group's disappointing outlook.

While it remains confident about the fundamentals of the contract catering sector and its resilience in times of economic crises, the analyst believes that Elior has made a string of strategic and operational mistakes over the past few years.

From a purely operational perspective, analysts still see that Elior will post a slower improvement than its competitors, even with the integration of DMS, with a relatively high integration risk in the near term, the broker says.

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