Lagardère: Barclays downgrades stock
(CercleFinance.com) - Barclays has downgraded its rating on the Lagardère share to "equal weight," while actually raising its corresponding target price to 19 euros, underlining that "the recovery in passenger traffic and consequently in Travel Retail revenues is slower than expected".
The broker also notes that the share price has increased by 52% over the last three months, outperforming the STOXX600 by an impressive 47% and that it is now only 10% below its pre-Covid-19 level.
In our view, this implies that investors are already paying for some of the potential corporate action benefits that might arise from the current shareholder situation, benefits that are by no means guaranteed," Barclays adds.
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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 broker also notes that the share price has increased by 52% over the last three months, outperforming the STOXX600 by an impressive 47% and that it is now only 10% below its pre-Covid-19 level.
In our view, this implies that investors are already paying for some of the potential corporate action benefits that might arise from the current shareholder situation, benefits that are by no means guaranteed," Barclays adds.
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.