FDJ: Oddo BHF lowers its target price

(CercleFinance.com) - While maintaining its 'neutral' rating on Française des Jeux (FDJ) shares, Oddo BHF has lowered its target price for them from E38 to E36, following the revision of its expectations for the gaming group, as well as updated market data.


However, in the wake of lower-than-expected quarterly sales, the broker believes that FDJ benefits from a resilient growth profile, a healthy balance sheet enabling a steady return to shareholders, and transformative M&A.

However, while the European Commission's decision could arrive in September and restore visibility, another regulatory risk arises in the context of the Kindred acquisition, with the hinted-at tightening in the Netherlands, it warns.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.