Oddo BHF maintains its 'neutral' opinion on OVHcloud, with a price target reduced from nine to six euros, in order to take into account the current risks linked to the group's high exposure to France (49% of first-half sales).
Following the announcement of third-quarter sales slightly ahead of expectations and the maintenance of annual targets, the research department does not expect to modify its earnings forecasts for the IT group.
Oddo BHF nevertheless says it is 'still concerned about the group's small size in an ultra-competitive environment (need for a more ambitious European policy on data sovereignty)'.
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OVH Groupe is the leading European cloud services provider, uniquely positioned to capitalize on the rapidly growing cloud market.
The Group provides business customers with a comprehensive suite of solutions designed to capture growing demand for multi-cloud and hybrid cloud strategies, while meeting the surging demand for data sovereignty and trusted cloud solutions.
OVH Groupe provides 1.6 million customers - composed largely of SMBs, large and tech enterprises, as well as the public sector - with a comprehensive suite of solutions in private, public and web cloud, leveraging its global network of 44 data centers, hosting over 500,000 servers across 4 continents.
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