Sodexo downgraded to Hold from Buy at Deutsche Bank

Deutsche Bank downgraded Sodexo (SDXAY) to Hold from Buy with a price target of EUR 73, down from EUR 93, after Sodexo published its first half results two weeks in advance of its planned publication date of April 4 and warned on its FY25 outlook. Top-line revenue growth is now expected to be between 3%-4% like-for-like, while underlying EBIT margin improvement is now expected to be 10-20 basis point, both down from prior expectations, the analyst noted.