(News Bulletin 247) – On the occasion of a quarterly activity report deemed ‘unsurprising’ by OVHcloud, Oddo BHF raises its opinion from ‘underperformance’ to ‘neutral’ on the stock with a price target maintained at 10.5 euros, after the fall in the stock market.
After the profit warning issued last April, the group’s turnover showed organic growth of 13% to 228 million euros, a level exactly in line with expectations, and therefore does not justify a change in the forecasts of the office of ‘studies.
‘OVH’s challenges remain numerous with an industry that has suffered a sharp slowdown in its growth dynamic for several quarters, unfair competition from American hyperscalers and a model that is too capex-intensive,’ he judges.
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