JCDecaux: Oddo reduces target price
(CercleFinance.com) - Oddo maintains its "neutral" rating on JCDecaux shares, having shaved a euro off its target price for them from 22.
5 euros to 21.5 euros.
Last night, JCDecaux published quarterly revenues that are in line with Oddo's expectations, with organic growth of 46%, just above Oddo's forecast of 45% and the group's forecast of over 40%.
However, the group is guiding cautiously for Q2 and is targeting organic growth of at least 15%, whereas we were expecting +30%, the analyst notes, who is therefore revising his expectations for annual organic growth to +15% from +18% previously.
Caution over Q2 is mainly due to the situation in China and the string of local confinements, Oddo says.
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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.
5 euros to 21.5 euros.
Last night, JCDecaux published quarterly revenues that are in line with Oddo's expectations, with organic growth of 46%, just above Oddo's forecast of 45% and the group's forecast of over 40%.
However, the group is guiding cautiously for Q2 and is targeting organic growth of at least 15%, whereas we were expecting +30%, the analyst notes, who is therefore revising his expectations for annual organic growth to +15% from +18% previously.
Caution over Q2 is mainly due to the situation in China and the string of local confinements, Oddo says.
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.