Oddo BHF has downgraded its opinion on Worldline to 'neutral', with a price target reduced from 18 to 13.5 euros, 'as part of a change of analyst for coverage of the stock and a more pronounced sector hierarchy'.

'Prospective valuation multiples look attractive, but momentum is likely to remain problematic (weak organic sales growth until the fourth quarter) and it will take time to reassure on the group's competitiveness', it believes.

According to the research department, this morning the payment solutions group reported results for 2023 'at the bottom end of guidance as expected' and unveiled guidance for 2024 'without any major surprises compared with expectations'.

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