Sodexo's new 'recipe for success' prompts Jefferies upgrade to 'buy'

Sodexo SA

30/03/2026 07:10

** Jefferies upgrades Sodexo EXHO.PA to "buy" from "hold", saying it believes the new management can drive change in a company with an attractive risk-to-reward profile

** "Investor sentiment is at a low, and a much anticipated earnings reset could act as a clearing event," it says, adding that after two years of de-rating the French caterer's trading multiples have hit a trough

** Jefferies raises its PT by 34% to EUR 55, projecting gradual recovery in sales with organic growth reaching more than 4% by 2029

** The broker says Sodexo's "recipe for success" is built around six pillars including a "strong mandate" for its first external CEO, a sharper portfolio strategy and reinvestment to leverage a positive industry backdrop

** Out of 19 analysts that cover Sodexo, five rate the stock "strong buy" or "buy",​ 12 "hold" and two​ "strong sell" or "sell" - LSEG data

(Reporting by Jakob Van Calster)

((jakob.vancalster@thomsonreuters.ocm))