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Eurazeo: Oddo remains neutral; negotiating with Indinvest.

(CercleFinance.com) - Oddo confirms its Neutral rating on the Eurazeo stock, along with its target price of 75 euros, after the organisation of an Investor Day by Eurazeo's management.

Eurazeo has many strengths to raise its NAV: 1/ Participating in the growth and international development of companies in its portfolio; 2/ Developing an investment model that is based on permanent equity and fund management for third parties... 3/ ... which extends investment opportunities and reduces the group's risk profile, Oddo says in its daily research report.

However, we remain neutral towards the stock, because of a limited discount on its NAV (6%), but which should continue to fall with the development of fund management for third parties.

Eurazeo has entered into exclusive negotiations for the acquisition of Indinvest (article in Les Echos) which manages funds of over 8 billion euros: this would be a catalyst for a continuation in Eurazeo's revaluation, the broker explained.

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