BUZZ-Vusion falls after AlphaValue initiates at 'sell' on cash and revenue risks

** Eight analysts covering Vusion rate the stock "strong buy" or "buy" - LSEG-compiled data

(Reporting by Hugo Lhomedet)

((hugo.lhomedet@thomsonreuters.com))

July 15 (Reuters) - ** Shares in Vusion VU.PA fall 7.6% after brokerage AlphaValue initiates with a "sell" rating, flagging severe cash and revenue risks

** Brokerage questions firm's transition towards software Value Added Services (VAS), calling the new business model an "optical illusion"

** Notes the VAS segment "shows no IFRS substance, no cost allocation, and an implied 100% gross margin" which masks underlying profitability issues

** Adds that a mega contract with Walmart WMT.O, accounting for over 70% of 2025 revenue, ends in 2026 with thin economics and heavy cash consumption

** Broker expects the group will struggle to replace Walmart volumes, putting its ambitious 2027 financial targets completely out of reach