ID Logistics: Oddo BHF says momentum set to improve
(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on ID Logistics shares, along with its E350 target price, highlighting an improving momentum and sound visibility for 2024 for the contract logistics group.
The broker points to more favourable comparison bases in France, accelerating international growth, commercial synergies that are coming into full play - thanks to recent acquisitions - and significant M&A opportunities.
The analyst adds that the share price's recent fall seems to offer a buy opportunity, with multiples that are well below their historical averages (2024 EV/EBITDA excluding IFRS16 of below 8x, vs. 12x historically), the analyst adds.
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