(CercleFinance.com) – GL Events is up more than 7% in Paris, while Oddo maintains its outperformance rating on the stock, with a price target raised from 20 to 23 euros.
The analysis office reports that GL Events published its annual turnover last night, which stands at 1,315 ME, i.e. a growth of 77% vs 2021, while the group had given a growth guidance of more than 55%.
The analyst returns to ‘The Q4 is really much higher than expected,’ came out at 510 ME when he was expecting 344 ME. Oddo thus evokes “a historic record” and believes that this level could have been even higher if the situation in China had been normal.
“The group will formulate official guidance during the 2023 results, but it should count on growth and a reduction in its gross debt”, anticipates the analysis office.
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