(News Bulletin 247) – Sodexo shares fell on the Paris Stock Exchange on Monday, penalized by a lowering of the recommendation by analysts at Royal Bank of Canada.
The Canadian bank’s teams announced this morning that they had lowered their advice from ‘outperformance’ to ‘performance in line’ due to a risk/return profile deemed to be ‘better balanced’.
At 3:30 p.m., the title of the collective catering group lost 0.5%, in a stable Parisian market, which did not prevent it from posting an increase of 9.5% since the start of the year.
RBC analysts justify their downgrading 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 subsidiary (BRS ), scheduled for next year.
They point out, however, that the catering services group’s ‘disparate’ track record in terms of operational performance, combined with insufficient corporate governance, could limit investor interest at current price levels.
Their objective goes back, despite everything, from 101 to 106 euros.
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