Bolloré: Oddo raises target price

(CercleFinance.com) - Oddo confirms its outperform rating on the Bolloré share, increasing its corresponding target price to 5.
2 euros (vs. 3.8) following Vivendi's 60% stake in UMG.

The analyst believes that the operating outlook is positive for the group's Transport & Logistics division. 2020 results (to be published on 4 March) should confirm a good year-end in transport commission and a rebound in port activity in 2021.

The broker believes it credible that the group is simplifying its structures. It sees the UMG deal as a step in the restructuring of the Bolloré loop, which could continue in 2021 and 2022, Oddo adds.

Analysts expect EBIT of 597 million euros for Bolloré Transport & Logistics and EBIT of 1,738 million euros for the group, based on its forecasts for Vivendi in particular. They also expect EBIT of 627 million euros in 2021 for Bolloré Transport & Logistics.


Copyright (c) 2021 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.