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ALD: stock continues falling, with analyst cutting TP

(CercleFinance.com) - ALD shares continued to decline on Monday, with Deutsche Bank lowering its target price for the stock from E16 to E12, even though while reiterating its buy recommendation.


At 9:40 a.m., the mobility specialist was down nearly 0.5%, while the SBF 120 index was down around 0.1%: the share has now lost nearly 35% over the past month.

In its comments, the broker hails the resilience of the business of Société Générale's car rental subsidiary, which it nevertheless considers "undervalued" by the market.

While it also highlights the company's solid credit rating, as well as its ability to continue raising funds at attractive interest rates, the broker explains that it has revised its estimates following the new targets communicated last month by the car rental company's management.


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