UBS has reaffirmed its 'buy' recommendation on Sodexo, with a price target raised from 89.5 to 101 euros, representing an estimated 30% upside potential for the foodservices and corporate services group.

The potential for outsourcing-led sales growth and margin expansion through economies of scale and purchasing efficiencies is underestimated", says the broker, for whom Sodexo is the first choice in the catering sector.

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