Euroapi shares fell back sharply on the Paris Bourse on Tuesday, following a negative opinion from Deutsche Bank, which fears that the group's restructuring will be spread over many years.

Shortly before 10:00 a.m., Euroapi suffered the biggest drop in the SBF 120 index, falling by almost 10%, bringing its decline over the last five trading sessions to more than 50%.

In their note, Deutsche Bank analysts said they were disappointed by last week's strategy presentation and the lack of more specific details concerning cost reductions, sources of financing and medium-term objectives.

Overall, it appears that operational visibility remains low", worries the research firm, which estimates that the reorganization and investments underway could require an additional need for funds of around 70 million euros by 2027, most likely via recourse to dilutive financing tools, it warns.

On the basis of these factors, Deutsche Bank expects the stock to underperform, leading it to downgrade its recommendation from 'hold' to 'sell', with a target price cut in half, from six to three euros.

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