IPSOS : Oddo BHF slightly reduces its target
This change of target comes on the heels of Ipsos' announcement of a downward revision of its organic sales growth target for 2023, which is now expected to be +3-4% compared with the +5% previously targeted.
' This disappointment is due first and foremost to the absence of a recovery in revenues this summer among major Tech customers', says Oddo BHF, adding that the Group is also held back by its activity in China (3rd country - 7% of 2022 sales), as a result of disappointing macroeconomic indicators.
All in all, the downward revision of EPS does not exceed 2%, says Oddo.
The analyst believes that this is "a mini warning, a priori cyclical", which does not call into question the acceleration of organic sales growth in H2 "even if it will be a notch below initial expectations", according to the broker.
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