(News Bulletin 247) – Oddo BHF maintains its underperformance rating on the Orpea share with an unchanged price target of 0.5 euro.
Yesterday evening, the group had indicated that it had sold 22 establishments located in the Netherlands to Amvest Living & Care Fund for 85 ME.
Oddo BHF recalls that the Netherlands represented just under 4%e of the group’s revenues last year and could therefore be considered a ‘non-core’ country. This decision should thus have little impact on the short-term result, judges the analyst.
‘This news shows that the new strategy is deployed, but we remain at Underperformance with an OC at 0.5 E, taking into account the effects of dilution linked to the recapitalization of the group’, concludes the broker.
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