Sodexo: Oddo cuts target price, awaiting further details

(CercleFinance.com) - While French catering group Sodexo has just unveiled a new 350 million dollar savings and cost plan, Oddo anticipates that the market will have a neutral reaction to this, pending details of the plan which should be unveiled from 2pm at its CMD.


The analyst has cut his EBIT estimate by an average of 8% over 2021/2022, with organic growth now expected to decline by -3.6% in 2021 (vs. +0.7% previously), with -20% in H1 (guidance -20/-25%).

The broker maintains its neutral rating on the share and has cut its corresponding target price from 58 euros to 55 euros: the share is currently up 1.7% at 56 euros.


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