(CercleFinance.com) – ALD shares continued their decline on the stock market on Monday, Deutsche Bank having lowered its price target on the stock from 16 to 12 euros while reiterating its purchase advice.
At 9:40 a.m., the mobility specialist lost almost 0.5% while the SBF 120 index fell by around 0.1%. The stock has now lost nearly 35% over the past month.
In a note, the broker welcomes the resistance of the activity of the car rental subsidiary of Société Générale, which it nevertheless considers ‘undervalued’ by the market.
While it also highlights the company’s solid credit, as well as its ability to continue to raise funds at attractive interest rates, the broker explains that it has revised its estimates following the new objectives communicated last month by the direction of the vehicle fleet manager.