(CercleFinance.com) – Oddo BHF raises its opinion from ‘neutral’ to ‘outperform’ and its price target from 21 to 22 euros on JCDecaux, after a roadshow in Paris with managers of the group specializing in outdoor communication.
‘The general message is encouraging with a confirmation of the guidance for the third quarter (good trend in most regions, except in China and Germany)’, reports the analyst, whose expectations remain higher than those of the consensus.
Oddo BHF further considers that after a decline of 28% since its peak on March 8, the current price seems to be an opportunity, currently showing a 2024 PE of almost 15 times, i.e. at the bottom of its channel’s range since 2018 (between 12 and 30 times).
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