(News Bulletin 247) – UBS reiterates its neutral advice on value with a target of 11.7 E before the announcement of the results for the 2nd quarter of 2023 on August 4.
The analyst points to slowing momentum in several areas and headwinds in international retail.
‘ We expect total revenue of 5.9 billion euros (down 4% from the previous quarter and 7% from the previous year) and pre-tax profit of 2.1 billion euros. The pressure on turnover comes mainly from French distribution (LCL), consumer credit (CACF)… ‘says UBS.
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