Lagardère: Invest Securities still playing on refocusing

(CercleFinance.com) - Invest Securities has confirmed its buy rating on Lagardère shares this morning, saying that refocusing is materialising and creating value.


The firm has a target price of 31 euros for the share, which suggests upside potential of over 20%.

Analysts deem the travel retail group's quarterly sales to be "satisfactory," with organic growth that outstrips expectations by 2.6%, coupled with the group's confirmation of forecasts.

Invest Securities continues, saying that in addition to these positive numbers, the fact that the group's refocusing - announced a year ago - is taking shape and becoming a reality is a key item in the group's publication. This process should be finalised at the end of the first half of 2019, based on a valuation that is 20% to 30% higher than those considered by the consensus for Lagardère Active and sport.



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