Wavestone: Oddo BHF lowers its target price

(CercleFinance.com) - While maintaining its 'outperform' rating on Wavestone, Oddo BHF has lowered its target price from E66 to E58, following the publication of lower-than-expected H1 2024-25 results and a larger-than-expected profit warning.


Following these announcements, it has revised its forecasts for the consulting firm: overall, this translates into a -6% downward revision of its EPS for 2024-25 (it anticipates a similar adjustment at consensus level).

The fall in the share price since end-October (-20%) suggests that the market (on the buy-side) already seemed to be anticipating a warning of this magnitude, the analyst says, adding that after revisions, the share is trading at a discount to relative sector levels.


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