Bryan, Garnier & Co publishes a new Research Report on Sodexo
BUY vs. NEUTRAL FV EUR75 vs. EUR72
Upside still intact
After enjoying one of the best stockmarket performances in the sector during the first few months of the year, the H1 earnings publication on 18th April and the downward revision to full-year targets put a cat among the pigeons. We nevertheless remain convinced that the sluggish performance expected over the current year should be temporary and that as of next year, Sodexho should restore more robust organic growth and margin widening. After downgrading our recommendation in early April and following the share's recent correction, we are now restoring a Buy recommendation with a Fair Value of EUR75 and upside of 12%.
Full report available to subscribers
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