Emeis: Oddo BHF upgrades stock

(CercleFinance.com) - Oddo BHF has upgraded emeis (ex-Orpea) shares from "underperform" to "neutral", with a target price raised from E12 to E15, mainly based on a WACC that has been reduced from 13% to 12%.


The broker notes that the EHPAD group reported sustained organic growth of 9.6% for its first quarter, ahead of its French peers, with occupancy rates (TO) up overall, despite France.

The publication gives the impression that emeis is clearly more in line with a return to a more regular growth trajectory, thus turning the page on declining TOs, especially now that the financial restructuring has been completed, the analyst says.


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