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Gemalto: Oddo upgrades stock.

(CercleFinance.com) - Oddo has upgraded its rating on Gemalto from "neutral" to "buy," with a target price of 46 euros, corresponding to the price offered by Atos in its planned takeover bid of the specialist in digital security.

The broker's research department considers that the bid could be completed at valuation levels that could be raised to encourage an agreement with Gemalto's board of directors (especially if there are "poison pills" relating to Dutch legislation).

For information, the growth companies that belong to the electronic payment universe in Europe are being bought out this year based on an average 2018 EV/Ebitda multiple of 14x, adds the analyst who monitors the stock.

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