(News Bulletin 247) – Oddo BHF reiterates its ‘outperformance’ opinion on Xilam with a price target raised from 37 to 38 euros, judging that the share’s fall (-27% since the start of the year) makes the valuation attractive of the cartoon production company.
‘After the disappointment during the publication of the annual turnover, the impacts on the business model of the service, combined with the positive effects of the application of the SMA directive on the WCR are greater than what we anticipated’, underlines t he in view of the annual results.
According to the analyst, this should enable free cash flow to settle permanently at a high level, which “could allow the equity story to regain momentum knowing that the execution on the FCF was historically the weak point of Xilam’.
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