Goldman Sachs Upgrades Vivendi (VIVHY) to Buy; CEO Departs; Possibility For More Aggressive Actions

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Goldman Sachs upgraded Vivendi (OTCBB: VIVHY) from Neutral to Buy with a price target of EUR20.00 (from EUR17.20).

Analyst, Richard Jones, said, "In our view, the departure of the CEO could see Vivendi undertake a more aggressive approach to its corporate structure, potentially leading to significant disposals. As such, we have increased our SOTP valuation from €19.2 to €25 to reflect potential acquisition valuations (rather than trading multiples) but incorporate a 20% conglomerate discount."

For an analyst ratings summary and ratings history on Vivendi click here. For more ratings news on Vivendi click here.

Shares of Vivendi closed at $18.41 yesterday, with a 52 week range of $15.84-$27.93.

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