In a report released today, Laura Metayer from Morgan Stanley maintained a Hold rating on Vivendi, with a price target of €2.70.
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Laura Metayer’s rating is based on the ongoing legal uncertainties surrounding Vivendi’s ownership structure, particularly the Supreme Court’s decision to mandate a retrial regarding Bolloré Group’s control over Vivendi. This legal situation introduces a prolonged period of uncertainty, as the outcome of the retrial could significantly impact Vivendi’s valuation and strategic direction.
Given the potential for a mandatory buyout offer and the ambiguity around the valuation methodology, Metayer has opted for a Hold rating. The current market conditions, coupled with the capped value of Vivendi’s shares until further clarity is achieved, have led to a cautious approach. The price target has been adjusted to reflect these uncertainties, maintaining a conservative stance until more information is available.
In another report released on December 1, Kepler Capital also downgraded the stock to a Hold with a €2.50 price target.