Vivendi shares ended the day up (+0.6%), benefiting from a positive analysis by Oddo BHF. The research firm maintains its 'outperform' rating on the stock, with a target price raised from 12.7 to 15.9 euros.

The analyst's upgrade comes in the light of the Group's demerger, which is expected to be confirmed on July 25.

We are now valuing assets separately on the basis of future perimeters and essentially without discount, except for Vivendi Remain (holding structure). Our EBITA 2025/26th expectations have also been raised by 4% in connection with Canal+', the broker points out.

Oddo BHF believes that it is 'interesting to position oneself on the value', pointing out that 'the valuation is currently particularly discounted compared to the sum of the various assets'.

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