Albioma: remains a top pick for Oddo BHF
(CercleFinance.com) - After Albioma won a new solar contract, Oddo BHF confirms its "buy" rating on this stock, which features in its Midcap "Top Pick List," while it has raised its target price from 26 euros to 29 euros.
The share is trading at a 2020 EV/EBITDA multiple of 9x, which remains modest in view of the group's growth outlook, which is guaranteed by long-term contracts, the recurrence of its business model and potential offered in both biomass and solar energy, the analyst says.
He also welcomes the investment strategy that aims at the future exit from coal, to the benefit of biomass, which will broaden the range of investors. Impala has also taken a stake in the group recently, which has created renewed interest for the share.
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