'Winning combination': KBC ups Sofina after price correction

Sofina SA

05/05/2022 09:50

** KBC Securities raises Belgium's Sofina  SOF.BR  to "buy"
from "hold", saying its recent price correction presents a
favourable entry point for medium- to long-term investors
    ** After being oversold due to "overmounting pessimism in
the markets", the broker notes the stock has corrected by around
30% year-to-date
    ** Over the short-term, the brokerage factors a possible
Fed-induced recession, rising inflation and the implications of
the prolonged geopolitical tensions in Europe
    ** "Sofina's experienced investment team, diversified
portfolio, liquidity, and PE (private equity) exposures will
prove to be a winning combination," it adds
    ** The stock is up 4% in morning trade
    ** According to Refinitiv data, one analyst rates the stock
"buy" and two "hold"

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))