Bénéteau: Oddo BHF still a buyer after H1 results
(CercleFinance.com) - Oddo BHF maintains its "outperform" rating and E21 target price (cp: E11.
3, -14.5%) for Bénéteau shares, after the yacht maker's publication of excellent half-year results, with an improved outlook for the year.
Considering the good margins for the current year, the broker has increased its 2023 EPS estimates by 4.9%, while trimming those for 2024 by 1.7% to take account flat yacht sales next year.
Analysts say that the next few publications will provide it with better visibility on business trends in 2024, and enable it to fine-tune its scenario. Even assuming virtually no growth in 2024, valuation multiples remain very modest, it adds.
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