(AOF) – Elior jumped 6.67% to 2.20 euros. The collective catering specialist benefits from a recommendation upgrade from TP Icap Midcap, moving from Hold to Buy. The price target is now displayed at 2.5 euros compared to 2.3 euros previously. “A new capable management, a new robust Multiservices activity, a less complex price-inflation equation are the ingredients of a recovery which will quickly materialize,” indicated the analyst.
TP Icap Midcap believes that “the new management team will follow the same roadmap in order to restore Elior’s EBITA margin to a normative level of around 3-4%”.
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