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Elis: an analyst expects targets to be raised.

(CercleFinance.com) - The Elis share finished the day up on Friday after Société Générale (SG) raised its target price.

Analysts maintain their buy rating on the stock of the French industrial launderer, assuming that estimated synergies with Berendsen will be increased at the start of 2018. The broker has hence raised its 12-month target price by over 15% to 26.8 euros, against 23.2 euros previously.

SG has revised its estimates, which since 15 September take into account the Berendsen acquisition, which is transformative for Elis. SG's research report says that this new stage will enable the group to benefit from a better geographic mix.

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