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(CercleFinance.com) – Oddo BHF maintains its ‘neutral’ rating on Bonduelle shares with a price target raised from 7 to 8 euros.
The analyst reports that organic turnover growth of 2.7% reflects in particular the postponement of price increases from 2023 while volumes fell by 3.5%.
The decline is explained by a decline in the United States, particularly in private label salads, and weakened consumption in Europe.
EPS forecasts are adjusted to -9% for 2024/25 and +9% for 2025/26.
‘The group unfortunately does not give more precise financial objectives. After a year of transition in 2024/25, it is aiming for a rebound in 2025/26 before accelerating in 2026/27’, concludes Oddo BHF.
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