Trigano: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF maintains its outperform rating on Trigano shares, raising its target price for them from E148 to E160.
The broker bases its rating on Trigano's H1 results, which were slightly better than expected, with operating profit of E173.4m (compared with E169.2m expected).
Given its strong order book, which is saturating production capacity, Trigano expects strong sales growth and is very confident that motorhome sales will continue to grow beyond 2023.
As a result, Oddo BHF has raised its OIR assumptions by 7% to E400m for H2.
The analyst also highlights sound visibility over H2, good resilience of margins and a very favourable balance sheet situation.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker bases its rating on Trigano's H1 results, which were slightly better than expected, with operating profit of E173.4m (compared with E169.2m expected).
Given its strong order book, which is saturating production capacity, Trigano expects strong sales growth and is very confident that motorhome sales will continue to grow beyond 2023.
As a result, Oddo BHF has raised its OIR assumptions by 7% to E400m for H2.
The analyst also highlights sound visibility over H2, good resilience of margins and a very favourable balance sheet situation.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.