Eurazeo: SG maintains 'hold' rating
(CercleFinance.com) - This morning Société Générale (SG) has commented on holding company Eurazeo's planned acquisition of Idinvest Partners.
However, this deal is not enough to change SG analysts' rating on the stock, who maintain their "hold" rating on it, also sticking to their 12-month target price of 76.5 euros.
Eurazeo has indeed entered into exclusive negotiations with the group, with a view to buying approximately 70% of Idinvest, with its management set to keep the remainder. Analysts welcome the quality of Idinvest, a specialist in mid-market investment in France and Europe, which manages almost seven billion euros for insurance companies, institutional investors and 80,000 private individuals.
The research report indicates that the deal, which was previously reported by Les Echos, comes as no surprise. However, it "could further and significantly boost the size of the third-party asset management business at Eurazeo and its share of managed assets, reinforcing our view regarding the lower NAV discount".
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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.
However, this deal is not enough to change SG analysts' rating on the stock, who maintain their "hold" rating on it, also sticking to their 12-month target price of 76.5 euros.
Eurazeo has indeed entered into exclusive negotiations with the group, with a view to buying approximately 70% of Idinvest, with its management set to keep the remainder. Analysts welcome the quality of Idinvest, a specialist in mid-market investment in France and Europe, which manages almost seven billion euros for insurance companies, institutional investors and 80,000 private individuals.
The research report indicates that the deal, which was previously reported by Les Echos, comes as no surprise. However, it "could further and significantly boost the size of the third-party asset management business at Eurazeo and its share of managed assets, reinforcing our view regarding the lower NAV discount".
Copyright (c) 2018 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.