Spie: Oddo BHF welcomes acquisition of Robur Industry

(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on Spie shares, maintaining its E32 target price for them, with the stock featuring in its Midcap Recommended List, following the announcement of the acquisition of Robur Industry in Germany.


The broker sees this transaction as an excellent opportunity to accelerate growth, underlining that it should have a mid-single-digit accretive impact on the multi-technical services group's EPS as early as 2024.

Thanks to this acquisition, all the external growth operations carried out in 2023 represent cumulative sales of around E640m, or 8% of 2022 sales, which testifies to the group's ability to accelerate growth via bolt-on acquisitions, it says.


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