Quadient: Oddo BHF still a buyer after trading update

(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Quadient shares, along with its target price of E27, a stock that it includes in its Midcap Selection, highlighting a sound operating performance pending a new roadmap.


The broker points out that Quadient reported Q3 sales of E263m (+2% in organic terms) the previous evening, in line with its expectations, leading it to confirm its targets for the group.

Oddo BHF says that the stock's valuation remains extremely modest (trading at 4.7x 2024 EBITDA and 7.4x 2024 EBIT), i.e. a 36% discount relative to historic multiples, Oddo BHF highlights, which also notes that Bpi and Daniel Kretinsky have recently upped their stakes in its capital.


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