(News Bulletin 247) – Oddo BHF maintains its ‘outperformance’ rating on Vivendi shares, with an unchanged target price of 13 euros.
While Vivendi will publish its results for the 1st quarter on July 27, Oddo BHF anticipates a slight increase in turnover at the group level in Q2 (+2%).
‘EBITA should increase by 21%, notably under the effect of a strong increase in the contribution of Lagardère’, estimates the analyst who expects a ‘reassuring’ publication with ‘an increase in the results of most of the entities’.
Oddo BHF anticipates sales of 4,650 ME in H1 with EBITA of 501 ME (376 ME, excluding contributions from UMG and Lagardère) against 412 ME last year.
The broker is revising its annual expectations slightly downwards, with an EBITA of 1,019 ME for 2023 against 1,039 ME previously.
‘We do not expect any strategic change on the occasion of these results. However, it will be interesting to follow the company’s message on share buybacks,’ the analyst said.
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