Elior: Bryan Garnier downgrades rating.
(CercleFinance.com) - Bryan Garnier has downgraded its rating on Elior directly from "buy" to "sell," while maintaining its fair value of 28 euros, in a report on European catering stocks.
The broker justifies this downgrade by Philippe Salle's forthcoming departure from the group in November 2017, until it has more details to assess the group's strategy under its future new CEO.
Bryan Garnier indeed considers that another period of uncertainty is beginning, which could see the departure (voluntary or not) of members close to the team, which could still upset the company temporarily.
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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 justifies this downgrade by Philippe Salle's forthcoming departure from the group in November 2017, until it has more details to assess the group's strategy under its future new CEO.
Bryan Garnier indeed considers that another period of uncertainty is beginning, which could see the departure (voluntary or not) of members close to the team, which could still upset the company temporarily.
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.