Elior: Oddo still a seller
(CercleFinance.com) - Oddo maintains its "underperform" rating on the shares of collective catering group Elior, with an unchanged target price of 2.
8 euros.
The broker says that yesterdayElior and Derichebourg acknowledged that they were continuing discussions on a possible contribution by Derichebourg of its Multiservices division to Elior, a division that essentially includes cleaning and waste management activities (Oddo BHF estimates revenues at 940 million euros).
In this context, Oddo forecasts several scenarios: (1) the contribution of the Multiservices assets by Derichebourg in exchange for a larger stake in Elior's capital; (2) option 1 accompanied by a request for a waiver of Derichebourg's proposed mandatory takeover bid.
The analyst says that Option 2 appears to be the most interesting and credible.
Copyright (c) 2022 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.