(CercleFinance.com) – The stock ended the day in the red after a downgrade in recommendation. AlphaValue on Wednesday reduced its recommendation on the Elior title to ‘accumulate’ against ‘buy’ previously, with a price target lowered to 6.65 euros, against 7.57 euros so far.
In a research note, the independent consultancy highlights the ‘gloomy’ outlook for the service group, at least in the short term.
AlphaValue said it had revised its loss forecast for the 2020/2021 fiscal year, which ended at the end of September, upwards and lowered its estimates for the 2021/2022 financial year due to the consequences of the spread of the Omicron variant.
The Parisian firm expects the situation to penalize the collective catering activities of the French group, particularly in the segments of company canteens and education.
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