Lagardère: Oddo keeps 'buy' rating after FT information
(CercleFinance.com) - US group Wasserman Media Group is reported to have entered into “exclusive discussions” with Lagardère to acquire Lagardère Sports & Entertainment, according to the Financial Times.
“The article reports a price of 250-300 million, which is in line with our valuation (300 million euros)” indicates Oddo.
Oddo confirms its 'buy' rating for the share with an unchanged target price of 27.5 euros.
“If this transaction materialises, Lagardère would be selling its main asset. Lagardère Studios would remain to be sold (200 million euros), for which Spanish group Mediapro could be a potential buyer” explains Oddo.
“We think that a significant acquisition is possible (Simon & Schuster or a peer)” adds the analyst firm.
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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.
“The article reports a price of 250-300 million, which is in line with our valuation (300 million euros)” indicates Oddo.
Oddo confirms its 'buy' rating for the share with an unchanged target price of 27.5 euros.
“If this transaction materialises, Lagardère would be selling its main asset. Lagardère Studios would remain to be sold (200 million euros), for which Spanish group Mediapro could be a potential buyer” explains Oddo.
“We think that a significant acquisition is possible (Simon & Schuster or a peer)” adds the analyst firm.
Copyright (c) 2019 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.