Vivendi: Oddo BHF remains a buyer after results.
(CercleFinance.com) - Vivendi has reported Q2 revenue that is up 6.
2% at 2,774 million euros, 3% above the consensus and above Oddo's forecast of +2.3%. The group posted adjusted earnings that are up 12% at 320 million euros (vs. Oddo's estimate of 285 million euros). Following this publication, Oddo BHF confirmed its buy rating on the stock, with a target price of 22 euros.
Oddo BHF said that on a like-for-like basis, the group maintained its guidance for EBITA growth of 25% (including 350 million euros for Canal+, thanks to its restructuring plan), without specifying the level of extraordinary items to be expected.
"Management has reiterated the bases of its strategy: i/ become a European leader in media and content, ii/ ensure its presence in high growth markets (Africa, Asia, South America), and iii/ accelerate its digital transition to become a European leader, the broker's analysts added.
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.
2% at 2,774 million euros, 3% above the consensus and above Oddo's forecast of +2.3%. The group posted adjusted earnings that are up 12% at 320 million euros (vs. Oddo's estimate of 285 million euros). Following this publication, Oddo BHF confirmed its buy rating on the stock, with a target price of 22 euros.
Oddo BHF said that on a like-for-like basis, the group maintained its guidance for EBITA growth of 25% (including 350 million euros for Canal+, thanks to its restructuring plan), without specifying the level of extraordinary items to be expected.
"Management has reiterated the bases of its strategy: i/ become a European leader in media and content, ii/ ensure its presence in high growth markets (Africa, Asia, South America), and iii/ accelerate its digital transition to become a European leader, the broker's analysts added.
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.