(News Bulletin 247) – Royal Bank of Canada on Monday downgraded its opinion on Sodexo shares, reduced from ‘outperformance’ to ‘in line performance’ due to a risk/return profile deemed ‘better balanced’.
The Canadian broker justifies its decision by the solid performance of the stock over the past 12 months, against a backdrop of improved operating results and the formalization of the IPO project of its services, benefits and rewards (BRS) subsidiary. , scheduled for next year.
However, RBC points out that the catering services group’s ‘disparate’ record of operational performance, combined with insufficient corporate governance, could limit investor interest at current price levels.
Its objective goes back, despite everything, from 101 to 106 euros.
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