Cegedim: Steep increase in debt a "big disappointment" - SocGen cuts to "hold"

Cegedim SA

20/09/2019 08:12

** Societe Generale downgrades French health technology and
services company Cegedim  CGDM.PA  to "hold" from "buy", citing
"surprising" steep increase in debt
    ** On Thursday, the company said net financial debt rose to
165 million euros at end-June vs 108 million euros at end-2018
    ** Management said expects net financial debt at
end-December to be on par with the end-June level
    ** The brokerage cuts target price by 14.7% to 29 euros due
to lower peer multiples
    
  
    
    


 ((marta.frackowiak@tr.com))