(News Bulletin 247) – Oddo BHF reiterates its ‘outperformance’ opinion and its price target of 58 euros on Worldline, judging that ‘the recent stock market performance seems disconnected from the operational dynamic, which remains solid’.
‘The weakness of the stock offers, in our view, an opportunity to position itself at a very attractive valuation, i.e. 8.9 times the 12-month prospective EBITDA for a 2022/25 EBITDA CAGR of 14% and an FCF yield of respectively 6/7% in 2023 and 2024’, advances the analyst.
According to the research department, the group’s publication for the second quarter ‘should probably not arouse much enthusiasm’, considering in particular that most of the improvement in the margin is expected in the second half.
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