Vilmorin: stock up after FY sales announced
(CercleFinance.com) - The Vilmorin stock is up 5.
6% the day after the seed company published its annual sales figures, which were marked by organic growth that exceeded 10% in Q4, while the broker Portzamparc was expecting just 3.7%.
The negative trends seen over the first nine months were partially reversed in the fourth quarter at all of the group's businesses, and particularly in the arable crops, the broker's analysts pointed out.
According to Portzamparc, this "encouraging publication" and the share price's fall of approximately one-third since the broker adopted a "reduce" rating now justify a more aggressive stance. As such, the broker has returned to a buy rating on the stock, nudging up its corresponding target price from 66 euros to 67 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
6% the day after the seed company published its annual sales figures, which were marked by organic growth that exceeded 10% in Q4, while the broker Portzamparc was expecting just 3.7%.
The negative trends seen over the first nine months were partially reversed in the fourth quarter at all of the group's businesses, and particularly in the arable crops, the broker's analysts pointed out.
According to Portzamparc, this "encouraging publication" and the share price's fall of approximately one-third since the broker adopted a "reduce" rating now justify a more aggressive stance. As such, the broker has returned to a buy rating on the stock, nudging up its corresponding target price from 66 euros to 67 euros.
Copyright (c) 2018 CercleFinance.com. All rights reserved.