PT updated to EUR109
We have updated our model post the Q3 trading update. In view of the spin-off of Pluxee in 2024, we have used the SOTP method in addition to our DCF valuation.Despite all the improvements that Sodexo has made since its last CMD, there is still a gap between Sodexo and Compass, and Sodexo still needSodexo is a services company which partners with companies, institutions and local authorities. Co. designs, manages and delivers Quality of Life services. Co.'s offers are: On-Site Service Solutions (Co.'s services are: Corporate, Defense, Justice Services, Remote sites, Health Care, Seniors, Education and Sports and Leisure), Benefits and Rewards Services Solutions (Co.'s offers focus on the following services: recruit and retain employees and increase their motivation; mobilize teams around quantitative or qualitative objectives; ensure delivery of Public Benefits), and Personal and Home Services (services in childcare; tutoring and adult education; concierge services and senior care).
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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