Oddo BHF maintains its 'outperform' rating on Cie des Alpes shares, with a target price raised from €20 to €21.

The company announced last night that it had signed an agreement to acquire 86.5% of the capital of the Urban group, leader in 5-a-side soccer centers with a 25% sales margin (UrbanSoccer brand) and co-leader in padel (UrbanPadel brand) in France.

The broker believes that this operation will not be 'transformative at group level', but that it will be 'meaningful and, above all, accretive' (EPS +6%e 2023/24 and +10%e 2024/25).

Oddo BHF maintains the stock in its European Nextcap convictions list for the first half of the year.


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