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Somfy: 2018 pleasantly surprises; Oddo BHF a buyer

( - An analyst at Oddo BHF maintains his "buy" recommendation on the Somfy share, appreciating 2018 results that are satisfactory compared to [his] expectations, with a better-than-expected leverage on margins in organic terms.

Nevertheless, the broker still retains a cautious message regarding the French industrial group that is specialised in motorisation, the automation of housing and building locks and alarm systems. In their statement the company's directors say that in the near term they are not ruling out a slowdown in business due to macroeconomic conditions and geopolitical tensions. In addition, the group's margins will continue, to integrate sustained investment (innovation, IT, digitisation, partnerships) that could even be accentuated, Oddo BHF notes.

Justifying his"buy" recommendation by, amongst other things, the prospects of “smart” homes and controlled margins, given significant investments, the analyst confirms his target price of 80 euros for the share, suggesting upside potential of 10%.

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