Sodexo: Bryan Garnier adjusts target price.
(CercleFinance.com) - While maintaining its "neutral" rating on Sodexo, broker Bryan Garnier has trimmed its fair value for the share from 103 euros to 101 euros, the day after the group issued a warning on its FY 2016-17 sales growth.
“We consider 1.5% not too bad regarding management's comments on Q3, implying Q4 organic growth of 4.8%,” the broker says.
Bryan Garnier also points to a favourable comparison basis for Q4, while pointing out that the corresponding period in 2015-16 saw an organic decline of 0.1%, which proved to be the worst performance of its fiscal year.
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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.
“We consider 1.5% not too bad regarding management's comments on Q3, implying Q4 organic growth of 4.8%,” the broker says.
Bryan Garnier also points to a favourable comparison basis for Q4, while pointing out that the corresponding period in 2015-16 saw an organic decline of 0.1%, which proved to be the worst performance of its fiscal year.
Copyright (c) 2017 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.