Valeo: Oddo confirms rating on share
(CercleFinance.com) - Oddo believes that the group's targets for 2022 are a far cry from its previous aims, which seems to confirm the growing difficulty of combining technology and financial performance.
The broker says that the stockmarket rebound in H2 seems difficult to justify by the group's fundamentals that will remain tight (Oddo BHF's estimates are 13% below expectations in 2020), which underpins its belief that the share's valuation is currently excessive, analsts say.
Oddo therefore confirms its Reduce rating on the share, along with a target price of 25 euros (about 22% downside potential. The share is currently down about 1%.
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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 says that the stockmarket rebound in H2 seems difficult to justify by the group's fundamentals that will remain tight (Oddo BHF's estimates are 13% below expectations in 2020), which underpins its belief that the share's valuation is currently excessive, analsts say.
Oddo therefore confirms its Reduce rating on the share, along with a target price of 25 euros (about 22% downside potential. The share is currently down about 1%.
Copyright (c) 2020 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.