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Edenred: Oddo confirms rating after sales announced.

(CercleFinance.com) - Oddo has confirmed its buy rating on the Edenred stock, along with its target price of 27 euros, after the group published its 9 months sales.

The broker's analysts said that the group's growth outlook and fundamentals remain unchanged.

Edenred posted total Q3 revenues of 310 million euros, up 11.5% (+6.6% like-for-like).

Oddo said that overall, Q3 is in line with expectations at 310 million euros (+11.5%, of which +7.1% stems from acquisitions), despite a greater-than-expected slowdown in organic growth (+7.0% vs. Oddo's estimate of 7.5%, relating to LatAm)."

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