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Arkema: Oddo BHF confirms buy rating

( - Oddo BHF maintains its 'outperform' rating on Arkema shares, with an unchanged target price of E110.

Note that Arkema's quarterly results revealed a 5% drop in EBITDA, to E350m, 3% above expectations (Oddo BHF/consensus = E340m/E341m) but 6% above the E331m guidance.

Management has left its full-year guidance unchanged, targeting EBITDA of E1.5bn to E1.7bn. In addition, Q2 is expected to be slightly up on Q2 2023 (>E417m).

Oddo BHF believes that this publication brings 'no major surprises'. According to the analyst, the situation is "well under control", despite a demand context that remains "difficult and uncertain".

The broker is confident in the Group's ability to stand out during the next cycle of demand recovery (i.e., potentially as early as the second half of the year).

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