Eramet: Oddo BHF raises TP
(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on Eramet shares, with a target price raised from E157 to E177, following the inauguration of Centenario; i.
e. a crucial milestone that should strengthen the group's profile by anchoring it in the energy transition.
The exceptional manganese momentum created by GEMCO's production shutdown in Australia is continuing and seems to be gaining momentum, while inventories in Chinese ports are getting lower and lower, a phenomenon that should continue until 2025, it adds.
The broker also points to a valuation that is still attractive, with a 2025 EV/EBITDA multiple of 3x, offering a discount of over 40% relative to peers, even though the financial structure is now completely sound.
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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.
e. a crucial milestone that should strengthen the group's profile by anchoring it in the energy transition.
The exceptional manganese momentum created by GEMCO's production shutdown in Australia is continuing and seems to be gaining momentum, while inventories in Chinese ports are getting lower and lower, a phenomenon that should continue until 2025, it adds.
The broker also points to a valuation that is still attractive, with a 2025 EV/EBITDA multiple of 3x, offering a discount of over 40% relative to peers, even though the financial structure is now completely sound.
Copyright (c) 2024 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.