Edenred : Positive fundamental view unchanged but target price cut to factor in the recent regulatory and legal issues – open message on a buyback
>Proceedings in Italy: the figure of € 20m is seen as the maximum risk - At our TMT conference, Edenred reiterated that the sum of € 20m sequestered by the Italian public prosecutor is considered the maximum amount that could be demanded (+€ 1-3m depending on whether the fraud is deemed deliberate or not). This is traditional practice in penal proceedings in Italy so that the courts ensure that companies pay up if fined. The € 20m figure was calculated by an expert an...Edenred designs and delivers services to clients, companies or public sectors, enabling them to offer beneficiaries additional purpose-directed purchasing power, such as the Ticket Restaurant® meal voucher, and provides prepaid corporate services. Co.'s product offering ensures that allocated funds are used as intended, allowing its clients to manage: Employee benefits (Ticket Restaurant®, Ticket Alimentacion®, Ticket CESU, Childcare Vouchers®, etc.); Expense management process (Ticket Car®, Ticket Clean way®, Repom®, etc.); and Incentive and rewards programs (Ticket Compliments®, Ticket Kadeos®, etc.). Co. also supports public institutions in managing their social benefits programs.
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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