Jefferies analyst Simon Lechipre downgraded Sodexo (SDXAY) to Hold from Buy with a price target of EUR 80, down from EUR 90, as the analyst took over coverage of the European catering sector. The aftermath of the pandemic proved more positive than expected for the industry and the firm is confident that the ongoing growth acceleration is sustainable as outsourcing continues to develop, but still recommends being selective in stock-picking, the analyst tells investors.
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