Oddo BHF has lowered its opinion on Voltalia from 'outperform' to 'neutral', as well as its target price from 20.3 to 13.2 euros, in reaction to a half-year results publication considered a 'disappointment on several counts'.

The Group needs to improve its ability to deliver more quantitative information, enabling the most accurate possible approximation of mid- and year-end landings", believes the analyst, who sees this as the prerequisite for regaining investor confidence.

In view of Voltalia's profit warning for 2023, the research department has adjusted its published EBITDA expectation to 250 million euros (from 286 million previously) and lowered its EPS estimate by 17.8% to 0.36 euro.

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