Bonduelle: Oddo remains neutral; cuts estimates

(CercleFinance.com) - Bonduelle has posted H1 2017/18 revenues of 1,420.
3 million euros, up 38.5%, thanks to the integration of the US company Ready Pac Foods over the entire period. Growth on a comparable basis reached 1.6%.

Following this publication, Oddo has trimmed its organic growth estimate for 2017/18 from +3.1% to +2.6%.

Analysts said that they have cut their FY EBIT growth estimate by almost 2% to 134.8 million euros.

Oddo maintains its Neutral rating on the stock (TP 42 euros), pending more visibility on the trend in North American business.

Analysts fear pressure on prices in the US and increased competition for Ready Pac Foods' businesses.


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