Lagardère: Oddo cuts forecasts for 2020 and 2021
(CercleFinance.com) - Oddo reiterates its Neutral rating on the Lagardère share with a new target price of 14.
5 euros (versus 16 euros previously).
The broker has reduced its 2020 EBITA forecast, mainly due to Lagardère Travel Retail and recovery that will probably be very slow.
Analysts now expect EBITA of -143 million euros in 2020 (against +96 million euros previously), followed by 162 million euros in 2021 (against 287 million euros previously). However, they say that they canno detect any risk in 2020 thanks to the group's 1,250 million euro credit facility.
Oddo also believes that the stock's speculative dimension is tailing off, with the arrival of Groupe Arnault in Lagardère C&M's capital.
The market also seems cautious - the Lagardère share is down 2.5% at just over 12 euros in early trading on Thursday.
Copyright (c) 2020 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.
5 euros (versus 16 euros previously).
The broker has reduced its 2020 EBITA forecast, mainly due to Lagardère Travel Retail and recovery that will probably be very slow.
Analysts now expect EBITA of -143 million euros in 2020 (against +96 million euros previously), followed by 162 million euros in 2021 (against 287 million euros previously). However, they say that they canno detect any risk in 2020 thanks to the group's 1,250 million euro credit facility.
Oddo also believes that the stock's speculative dimension is tailing off, with the arrival of Groupe Arnault in Lagardère C&M's capital.
The market also seems cautious - the Lagardère share is down 2.5% at just over 12 euros in early trading on Thursday.
Copyright (c) 2020 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.