Following OVHcloud's 'unsurprising' quarterly trading update, Oddo BHF has raised its opinion on the stock from 'underperform' to 'neutral', with the target price maintained at 10.5 euros, after the share price plummeted.

After the profit warning issued last April, the group's sales showed organic growth of 13% to 228 million euros, a level exactly in line with expectations, and therefore does not justify any change in the research firm's forecasts.

OVH's challenges remain numerous, with an industry that has been experiencing a sharp slowdown in growth momentum for several quarters, unfair competition from American hyperscalers and a model that is too capex-intensive", it judges.

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