GL Events: Oddo raises target price
(CercleFinance.com) - Oddo maintains its outperform rating on GL Events shares, increasing its target price for them from 20 euros to 23 euros.
The broker says that last night GL Events published FY sales of 1,315 million euros, up 77% from 2021 and significantly above the group's own growth guidance of over 55%.
The analyst highlights a Q4 that was well above expectations, at 510 million euros, while Oddo was expecting 344 million euros. Oddo therefore notes an historic record and believes that this level could have been even higher if the situation in China had been normal.
Copyright (c) 2023 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.