© Reuters. Bonduelle: title on the rise, an analyst goes to the purchase
The title Bonduelle (PA:BOND) is gaining 3.3 per cent on Friday in Paris, on a background of reassuring remarks made by an analyst.
Oddo BHF states, in effect his recommendation on Bonduelle ‘neutral’ to ‘buy’ with a target price unchanged of € 38, holding ‘the depreciation of the title exaggerated even if the turnover of the fourth quarter is weak’.
The office of study points out that the title of the food group declined by 28% since the beginning of the year, while the revision of its estimates of BPA on 2018 spring is accumulated to -10% (-13% for the consensus), of which -5% from foreign currency.
‘With a P/E 2018/19e which is dropped to a reasonable level of 11.7 times, the timing seems appropriate and the adjustment to recent goals comes from more of a shift than a questioning of synergies with Ready Cap’, considers the analyst.
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