Lagardère: Oddo confirms rating after H.I.G. offer
(CercleFinance.com) - Lagardère has received an offer from H.
I.G. Capital to purchase 75% of Lagardère Sports, valuing Lagardère Sports at around 110 million euros, and the entire Lagardère Sports and Entertainment business at around 150 million euros.
Following this announcement, Oddo confirms its buy rating on the share, along with a target price of 27.50 euros (about 38% upiside).
Oddo specifies that this is a sale that only concerns part of the group's consolidation scope.
The broker stresses that the price is lower than expected following the loss of the CAF contract, although the cash impact is very limited.
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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.
I.G. Capital to purchase 75% of Lagardère Sports, valuing Lagardère Sports at around 110 million euros, and the entire Lagardère Sports and Entertainment business at around 150 million euros.
Following this announcement, Oddo confirms its buy rating on the share, along with a target price of 27.50 euros (about 38% upiside).
Oddo specifies that this is a sale that only concerns part of the group's consolidation scope.
The broker stresses that the price is lower than expected following the loss of the CAF contract, although the cash impact is very limited.
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.