Vivendi: Oddo BHF trims target price
(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Vivendi shares, although has trimmed its target price for them from E13.
8 to E13.5.
With Vivendi due to publish its quarterly results on 19 October, the analyst anticipates slight group-wide sales growth for Q3 (+1.3%), after +4.2% in Q2 and +3.3% in Q1.
We do not expect any change in strategy with these results, Oddo BHF says, which does, however, specify that it has trimmed its 2023 EPS estimates, following an update in Multichoice's results.
The analyst believes it will be interesting to listen to the company's comments regarding a potential disposal of its UMG shares (10% of capital) and possibly a resumption of share buybacks.
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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.
8 to E13.5.
With Vivendi due to publish its quarterly results on 19 October, the analyst anticipates slight group-wide sales growth for Q3 (+1.3%), after +4.2% in Q2 and +3.3% in Q1.
We do not expect any change in strategy with these results, Oddo BHF says, which does, however, specify that it has trimmed its 2023 EPS estimates, following an update in Multichoice's results.
The analyst believes it will be interesting to listen to the company's comments regarding a potential disposal of its UMG shares (10% of capital) and possibly a resumption of share buybacks.
Copyright (c) 2023 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.