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Lagardere sells EADS, stock confirmed as buy

Staff writer |
Lagardere announced the completion of the sale of around 61 million shares of EADS, 7,4% of the company, for approximately 2,283 million euros, by means of a private placement.

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EADS has participated to this placement for a total amount of circa 500 million euros, at the price of the book. Upon completion of this transaction, Lagardere will have sold its entire stake in EADS.

At the same time, AlphaValue reiterated their buy rating on shares of EADS in a research report. The firm currently has a $65.13 (50 euro) price target on the stock. EADS' stock hit €38.785. The company has a one-year low of €24.255 and a one-year high of €42.585. The stock's 50-day moving average is currently €27.58. The company has a market cap of €32.089 billion and a price-to-earnings ratio of 25.54.

Several other analysts have also recently commented on the stock. Analysts at Investec reiterated a buy rating on shares in its research note to investors with a $58.97 price target. Analysts at Landesbank Baden-Wuerttemberg reiterated a buy rating with a $62.34 price target on the stock. Finally, analysts at JPMorgan Chase reiterated an overweight rating and they now have a $61.04 price target on the stock.

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