HDF: limited decline after results

(Boursier.com) — HDF limits its decline to 0.5% to 14.9 euros after the presentation of degraded half-year results. Oddo BHF explains that these results reflect the continued structuring of the company while the ramp up at the topline level is slower than expected… Given the difficulty of understanding the timing of project implementation and the risk of calling into question medium-term objectives, the analyst downgrades the file to ‘underperform’ with a target reduced from 19 to 15 euros.