(News Bulletin 247) – Oddo maintains its outperformance rating on Sodexo shares, with a price target raised from 98 to 99 euros.
While Sodexo will publish its H1 2023 results on April 5 before market, the analyst anticipates a solid H1 with sales of 12,143 ME (+18.4%e as published), in line with the consensus, with organic growth of +13.1%. , above consensus at 12.4%.
In addition, ‘we anticipate an EBIT of 681 ME in H1 2023, in line with the consensus at 679 ME, i.e. a margin of 5.6%, at +40 bp’, continues Oddo.
Oddo expects organic growth of 9.7% for FY23e, against 8.3%e previously, while the consensus is at 9.5%.
‘In total, our EPS sequence is adjusted upwards by 1.3% on average over 2023/2024e’, concludes the broker.
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