Berenberg initiated coverage of Wendel shares on Thursday with a buy recommendation and a price target of 103 euros, praising the "revolution" underway within the group.

"The company is currently undergoing a major change in its investment strategy by building a third-party asset management platform in the field of alternative investments, under the impetus of Laurent Mignon, recently appointed CEO", recalls the financial intermediary.

We believe that this unprecedented asset allocation strategy at group level will reduce risk, improve shareholder returns and limit the sharp discount that the stock currently carries in relation to the net value of its assets", it adds.

"We believe that this is the right time to take advantage of this structural change", concludes the analyst.

Copyright (c) 2024 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.