Sodexo: stock benefits from broker upgrade
(CercleFinance.com) - Up over 1% at 78.
3 euros, Sodexo is one of the strongest performers in the SBF 120 index (-0.5% just after lunch) on Tuesday, benefiting from a rating upgrade from Bernstein analysts.
The broker upgraded its rating on the stock from "hold" to "outperform" this morning, while maintaining a target price of 94 euros.
In its comments, Bernstein points out that Sodexo's stock has posted the worst performance of the entire catering sector over the Covid-19 crisis.
However, the analyst said he expects a turnaround with the release of the group's FY results on 28 October, which he expects to show a better-than-expected performance, a strong outlook and a potential renewal of dividend payments.
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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.
3 euros, Sodexo is one of the strongest performers in the SBF 120 index (-0.5% just after lunch) on Tuesday, benefiting from a rating upgrade from Bernstein analysts.
The broker upgraded its rating on the stock from "hold" to "outperform" this morning, while maintaining a target price of 94 euros.
In its comments, Bernstein points out that Sodexo's stock has posted the worst performance of the entire catering sector over the Covid-19 crisis.
However, the analyst said he expects a turnaround with the release of the group's FY results on 28 October, which he expects to show a better-than-expected performance, a strong outlook and a potential renewal of dividend payments.
Copyright (c) 2021 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.