(News Bulletin 247) – Invest Securities raises its opinion on Bigben from ‘neutral’ to ‘buy’, while adjusting its price target from seven to 6.8 euros, noting that since its downgrade last November, the stock has given up 23%, clearly underperforming Nacon.
In addition to a potential of +28% implied by its new price target, the research department highlights the distribution of Nacon shares to Bigben shareholders scheduled for this summer (4.3% of the capital, i.e. the equivalent of an 8.7% dividend).
Also, Invest Securities goes to ‘purchase’ on the file, ‘even though Bigben’s own momentum is limited to the revaluation of Nacon and a continuation of the distribution of Nacon shares to its shareholders’.
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