Elior: Bryan Garnier raises target price.
(CercleFinance.com) - Bryan Garnier has confirmed its "buy" rating on Elior and has raised its fair value from 24 euros to 28 euros, expressing greater confidence regarding the catering group's outlook.
The broker notes that, ”Following a year of planning the process and launching the huge projects defined by the Tsubaki plan, H1 2016-17 saw significant improvements that should continue over the whole of 2016-17.”
It continued, saying, “With the completion of the portfolio review by the end of 2017 and the optimisation of purchases, which should be finalised by the end of the following financial year, we are now convinced that our blue-sky scenario could be reached.”
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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 notes that, ”Following a year of planning the process and launching the huge projects defined by the Tsubaki plan, H1 2016-17 saw significant improvements that should continue over the whole of 2016-17.”
It continued, saying, “With the completion of the portfolio review by the end of 2017 and the optimisation of purchases, which should be finalised by the end of the following financial year, we are now convinced that our blue-sky scenario could be reached.”
Copyright (c) 2017 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.