Lagardere : Target price raised to € 20 vs € 18 with end to limited share partnership. Rating upgraded to Neutral following recent sell-off
>Rating upgraded to Neutral from Underperform - Following the agreement announced on 27 April and the planned end to its limited share partnership status, we have updated our valuation of Lagardère. We have removed the holding company discount that we had applied up to now and factored in the 10m new shares that will be allocated to Lagardère Capital. We have not applied a speculative premium for now as we do not think that an offer is on the cards imminently (within ...Lagardere Groupe is a holding company. Through its subsidiaries, Co. is engaged in the media industry (news, education, culture and entertainment businesses). Co.'s main activities in the media industry can be divided into four separate divisions. Lagardere Publishing includes Co.'s Book Publishing and e-Publishing businesses. Lagardere Active encompasses Co.'s Magazine Publishing, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage businesses. Lagardere Services encompasses the Travel Retail and Distribution businesses. Lagardere Unlimited specializes in sports and entertainment.
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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