SES Imagotag up as analysts view response to Gotham City's report positively

Vusion SA

27/06/2023 12:00

(Adds comment from EuroLand Corporate analyst)
    ** Shares in SES Imagotag  SESL.PA  are up 17% as it keeps
recouping last week's losses, as analysts react positively to
its detailed denial of Gotham City Research's allegations
    ** Stifel analysts call the management's explanations during
Monday morning's call "compelling"
    ** "The presentation was crystal clear, in our view, and
management's answers during the Q&A session were sufficiently
precise," Stifel says
    ** The brokerage adds it doesn't find Gotham's current
allegations "sufficiently robust"
    ** Stifel says Friday's 58% share drop was mainly due to
Gotham's reputation as an institution that is highly respected
for its track record and methods
    ** Stifel says accounting irregularities, expected to be
published in the second part of Gotham's report, generate
maximum uncertainty
    ** "This provokes a 'wait and see' attitude among the
bravest, while the most risk-averse rush to get out," it adds
    ** EuroLand Corporate analyst Louis-Marie de Sade also
salutes the speed and quality of the company's response
    ** The analyst expects the shares to still be affected by
short-term turmoil, in particular pending the publication of the
second part of the report, but says he is confident in the
group's intrinsic qualities and strategy
    ** The stock tops France's SBF 120 index  .SBF120 

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))