(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion on Bastide with a price target lowered from 35 to 33 euros, in the wake of an adjustment to its forecasts for the healthcare provider, in order to take into account in particular the increase in financial costs.
‘Bastide is considering allocating its capital to activities with better margins and better ROCE, including disposals (stomatherapy or MAD)’, notes the analyst, judging however that in the meantime, the title lacks resilience in the short term. term.
If the multiples appear to him to be ‘fundamentally low’, Oddo BHF warns that it ‘would need a specific catalyst (deleveraging would be the most important signal for this)’, but that the timing is undoubtedly tricky.
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