(News Bulletin 247) – AlphaValue announced on Monday that it had reduced its price target for Orpea shares, from 0.19 to 0.18 euros, following the downward revision of the group’s targets, announced last week.
In a research note, the design office says it fears a “complicated” recovery following the resounding scandal that surrounded the methods of the specialist in the accommodation of dependent elderly people.
The group announced last week that it had lowered its operational performance objectives for 2023, citing in particular insufficient occupancy rates in a “still difficult” reputational context and the rise in personnel costs, an element which it explains by its desire to improve the support and care of its residents.
Faced with these gloomy prospects, AlphaValue says it maintains a negative opinion on the title, in this case a recommendation for sale, saying that it anticipates efforts which, according to it, are going to be much more intense than initially planned.
The only small reason for relief according to the research firm, operating performance could be supported a little by positive non-recurring tax items, as well as by the reduction in capital expenditure.
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