Suez: Oddo BHF downgrades 'buy' rating
(CercleFinance.com) - While sticking to its target price of 15.
6 euros, Oddo BHF has downgraded its rating on the Suez share from "buy" to "neutral," saying that this is based on the performance of the share's stockmarket performance since the beginning of the year (+20.3% in absolute terms).
In its note, the broker mainly considers the group's four-year strategic plan which it unveiled this morning, in which it particularly targets recurring EPS of 0.80 euro in 2021.
Although the overall framework of the plan is in line with analysts' expectations, the lack of detail, the amount of non-recurring charges and a slight deviation from their current expectations for 2021 are leading the broker to adopt a more cautious stance towards the share, they say.
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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.
6 euros, Oddo BHF has downgraded its rating on the Suez share from "buy" to "neutral," saying that this is based on the performance of the share's stockmarket performance since the beginning of the year (+20.3% in absolute terms).
In its note, the broker mainly considers the group's four-year strategic plan which it unveiled this morning, in which it particularly targets recurring EPS of 0.80 euro in 2021.
Although the overall framework of the plan is in line with analysts' expectations, the lack of detail, the amount of non-recurring charges and a slight deviation from their current expectations for 2021 are leading the broker to adopt a more cautious stance towards the share, they say.
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.