(News Bulletin 247) – Oddo maintains its outperformance rating on Vivendi shares with a price target raised from 13 to 13.5 euros, after Vivendi published 2022 annual results yesterday evening that exceeded expectations with an EBITA of 868 ME (the consensus was counting on 830 ME).
We expect a continued rise in EBITA at Havas (292 ME) despite more limited organic growth (+2.5%).
‘The group has also confirmed that it will cancel its treasury shares after 24 months, which should mechanically lead Bolloré to cross the 30% threshold (around September 2023 maximum) and launch an offer’, reports Oddo who believes that an upstream operation ‘seems the most likely’.
‘In this perspective, Vivendi remains an attractive title to take advantage of this speculative dimension’, adds the analyst.
Oddo announces that following this publication its 2023 EBITA expectations have been slightly raised on an organic basis. ‘We expect EBITA to increase by 20% in 2023 but that includes the integration of Multichoice. Excluding this effect, the increase in our expectations is 2%’ concludes the broker, whose expectations remain unchanged on Havas.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
