GL Events is up over 7% in Paris, as Oddo maintains its outperform rating on the stock, with a price target raised from €20 to €23.

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

The analyst comes back to "Q4 is really well above expectations," coming in at 510 ME when he was expecting 344 ME. Oddo calls this '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 time of the 2023 results, but it should expect growth and a reduction in gross debt', anticipates the analyst.

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