(News Bulletin 247) – Goldman Sachs has lowered its 12-month price target on Elior, reduced from four to 3.45 euros, with an opinion maintained at ‘neutral’.
In a research note, the intermediary indicates that it has lowered its operating margin outlook for 2023 to 1.5% due to the intensification of inflationary pressures in the second half of the year and the difficulty that the group is encountering in the renegotiation of its contracts. with public administrations in France.
Beyond the persistence of inflation, which suggests a longer than expected recovery in margins from next year, the analyst points out that his new estimates also take into account the acquisition of Derichebourg Multiservices.
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