Technicolor: Oddo BHF remains cautious on stock

(CercleFinance.com) - Noting disappointing end-of-year DVD sales, and after a slight cut in its 2018 EBITDA target (between 265 and 275 million euros at constant exchange rates, while the initial guidance, excluding FX factors, was for flat EBITDA of about 280 million euros), an analyst at Oddo BHF says that he is maintaining his neutral rating on the Technicolor stock, coupled with a target price of 1 euro.


The broker says that after profit warnings in 2016 and 2017, Technicolor has issued another one in 2018. However, this is limited, although points out that the group is operating in a very complicated environment (mature markets for decoders and DVDs, a very difficult context for components, production constraints in the visual effects, etc.). As a result, the broker remains cautious towards the stock.


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