JCDecaux: Oddo BHF hails accounts and forecasts

(CercleFinance.com) - Broker Oddo BHF today confirmed its "buy" rating on JCDecaux shares, welcoming 2018 results that are slightly above expectations and a dynamic first quarter (Q1).


Maintained at 37 euros, the broker's target price suggests upside potential of over 30%.

Last year, the specialist in communication and outdoor advertising achieved an operating margin of 655 million euros, while Oddo BHF was expecting only 647 million euros, and the consensus even less as 640 million euros. The broker's report welcomes margins that are on the up, other than in street furniture.

In addition, the group's guidance for Q1 (organic growth of over 5%) is bang in line with its expectations (+5.6%), while it was 5.4% in Q4, Oddo BHF says.



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