(CercleFinance.com) – The stock ended the session up nearly 2.5%. Berenberg lowered its target price on Korian on Friday, which it reduced from 39 to 35 euros, while maintaining its buy recommendation on the title.
In a study devoted to the French sector of retirement homes, the German intermediary recalls that the group has endeavored, over the past few years, to retain its workforce and to ensure that its team leaders manage the sites’ in the right way’.
‘This has allowed the group to become a fierce defender of the sector as far as France is concerned, with the implementation of risk mitigation measures and a clear direction in terms of quality’, he adds.
‘We therefore expect the group to be well positioned in view of the regulatory changes that are looming in France and we take comfort in saying that the value of Korian’s activities outside France alone exceeds the market capitalization of the group’, concludes Berenberg.
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