(CercleFinance.com) – While it reiterates its ‘buy’ opinion on AdVini ‘given its value character’, Invest Securities lowers its price target from 25 to 24 euros, estimating that ‘uncertainty remains regarding an improvement rapid momentum’.
“The expected rebound in activity in the second half of 2023 did not materialize, with Advini suffering like the sector from a drop in volumes which is only very partially offset by price increases,” points out the analyst.
Invest Securities significantly lowers its 2023-25 expectations for the wine group, but with a limited impact on its price target, ‘in connection with the partial taking into account of the heritage character of the group and the medium and long term prospects’.
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