(CercleFinance.com) – Oddo BHF maintains its ‘underperformance’ rating on Elior shares, with a price target raised from 2.2 to 2.5 euros.
The analyst recalls that Elior will publish its H1 24 results (period October 2023 to March 2024) on May 16 before the market closes. Oddo BHF anticipates a turnover of 3,100 ME (company consensus 3,109 ME), total growth of 25% including 6.5% organically (consensus 5.7%), with an EBIT of 93 ME (7% above the company consensus at 87 ME).
Following the H1 publication, Elior should at least confirm its FY 24 objectives, namely organic turnover growth of between +4/5% (company consensus +4.9%, Oddo BHF +5.5%e) and a margin of EBIT of c.2.5% (consensus 2.5%, Oddo BHF 2.6%e), adds the broker.
‘In total, our EPS hypothesis is lowered by 3% on average for 2024/2026e, including -34% for 2024e but +12% on average for 2025e and 2026e’, concludes the analyst.
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