Campari : A 13% miss on underlying op. profit in Q3 2023 and guidance for a flat FY 2023 op. margin reiterated: downward revision expected from the consensus
>Underperform maintained with a target price lowered to € 10.5 - Underperform maintained and our target price (DCF) lowered to € 10.5 following the downward revision to our EPS forecasts for FY 2024e and thereafter. Whilst the share’s reaction yesterday may appear very negative (-7% with a low at -13%), it should be viewed in the perspective of a consensus that should adjust down its EPS forecasts by -5% to -10% for FY 2024e, but with very decent operational forecasts...
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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