Vivendi resumed with a Neutral at Goldman Sachs

Goldman Sachs resumed coverage of Vivendi (VIVHY) with a Neutral rating and EUR 3.20 price target The stock trades at a 39% discount to net asset value, NAV, compared to a 33%-44% discount range since the spin off on December 16, 2024, and the key driver of Vivendi’s share price performance and of any NAV discount reduction will be Vivendi’s intention regarding its financial investments and how it might redeploy any proceeds, the analyst tells investors in a research note. The timing of portfolio changes is uncertain, but the firm sees catalysts for the potential monetization of its financial investments, given Vivendi’s limited cash generation, Goldman added.