Oddo maintains its outperform rating on GL Events, with a price target of €20 to €23.

The research firm reports that GL Events published its annual sales last night, which came in at €1,315 million, representing growth of 77% vs. 2021, whereas the group had given a growth guidance of over 55%.

The analyst also commented on "Q4 was well ahead of expectations," with sales of 510 ME compared with expectations of 344 ME. Oddo thus refers to 'an all-time record' and believes that this level could have been even higher if the situation in China had been normal.

'The group will formulate an official guidance at the 2023 results, but it should expect growth and a reduction in gross debt', anticipates the research firm.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.