(Boursier.com) — Worldline lost 1.7% again to 9.90 euros this Friday, while AlphaValue remains a buy on the file with an adjusted target of 15.90 euros. Goldman Sachs remains ‘neutral’ on the stock with a target of 10.50 euros. Analysts continue to redo their calculations after the electronic payment specialist’s announcements at the end of February… Kepler Cheuvreux, which lowered its target price to 11 euros, remains to ‘keep’, while HSBC also retains, but with a target price of 12 euros. Many analysts have recently adjusted their views on the stock after the electronic payment specialist’s announcements at the end of February… While the 2023 results and 2024 guidance published proved to be without major surprises compared to the painful reset of last fall, the initial stock market reaction (-10%) demonstrated the fact that confidence will take a long time to restore and that the stock market revaluation will only come through an improvement in momentum which should only be seen at the beginning of 2025.
Mediobanca (‘neutral’) had already reduced the slider from 15 to 13.5 euros, while BNP Paribas Exane (‘neutral’) cut its target to 12 euros and Jefferies lowered the slider to 9.2 euros (‘underperform’).
Oddo BHF explained for its part that this publication did not entail a change in its results forecasts. It did not provide any really surprising elements, according to the broker, at least capable of justifying the sharp drop in the stock price. Its ‘neutral’ recommendation on value (target of 13.5 euros) includes attractive prospective valuation multiples (EV/EBITDA) but also problematic momentum at least until the end of the summer (low turnover growth and of EBITDA) and questions about the group’s competitiveness (transformation plan in progress).
The stock has lost 35% since January 1.
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