Wendel's share price rose on the Paris Bourse on Thursday, following a positive note from Berenberg, which initiated coverage of the stock at "buy".

The investment company's stock gained 1.3% around 10:30 a.m., outperforming the SBF 120 index, which advanced by around 0.8% at the same time.

In a study released this morning, Berenberg indicated that it had started monitoring the stock with a buy recommendation and a price target of 103 euros, praising the 'revolution' underway within the group.

The company is currently undergoing a major change in its investment strategy by building a third-party asset management platform in the field of alternative investments, under the impetus of Laurent Mignon, recently appointed CEO", recalls the financial intermediary.

We believe that this unprecedented asset allocation strategy at group level will reduce risk, improve shareholder returns and limit the sharp discount that the stock currently carries in relation to the net value of its assets', it adds.

We believe that now is the right time to take advantage of this structural change", concludes the analyst.

Wendel shares have gained 9% since the beginning of the year and 17% over the past three months.

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