Ipsos: Oddo still a buyer, maintains TP
(CercleFinance.com) - Oddo confirms its outperform rating on Ipsos shares, along with its target price of 60 euros.
Following meetings with investors, analysts will retain the deterioration of the macroeconomic environment which creates uncertainty for 2023. However, risks are limited for 2022 guidance, given that the group's order book is solid at end-June (+8% organic growth), the analyst notes, for whom the group can also count on its diversification and its ability to adapt its cost base quickly.
While organic sales growth is management's priority, Oddo points out the opinion poll group's desire to step up acquisitions, adding that there is plenty of leeway in its balance sheet and valuations that could be more reasonable over the next 18 months. Based on unchanged earnings forecasts, analysts maintain their target price at 60 euros.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Following meetings with investors, analysts will retain the deterioration of the macroeconomic environment which creates uncertainty for 2023. However, risks are limited for 2022 guidance, given that the group's order book is solid at end-June (+8% organic growth), the analyst notes, for whom the group can also count on its diversification and its ability to adapt its cost base quickly.
While organic sales growth is management's priority, Oddo points out the opinion poll group's desire to step up acquisitions, adding that there is plenty of leeway in its balance sheet and valuations that could be more reasonable over the next 18 months. Based on unchanged earnings forecasts, analysts maintain their target price at 60 euros.
Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.