Pluxee plunged 11% after the quarterly trading update from Sodexo's former benefits and rewards division, which nevertheless raised its annual organic sales growth target to around +18% (from +15 to +17%).

Details suggest a publication slightly below consensus expectations", points out UBS, which sees only limited short-term catalysts, and considers the stock to be fairly valued at current levels.

With sales up 14% to 297 million euros, third-quarter sales came in 2% below consensus, according to Oddo BHF, which nevertheless noted slightly better-than-expected organic growth of 17.9%.

While appreciating 'its profile of robust growth and operational improvement over the next few years, as well as the optionality on M&A', the research department considers that 'the current valuation implies only a limited discount to its main peers'.

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