Nexans: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Nexans shares, with a target price raised from E122 to E130.
As a reminder, Nexans recently announced the completion of its acquisition of the Italian company La Triveneta Cavi, mainly active in low and medium voltage cables.
We are integrating La Triveneta as of June 2024 (7 months then full year 2025). Our 2024 sales estimate is therefore E6,983m (vs. E6.6bn previously), including organic growth of 2.5% and a scope effect of 5%. We are revising upwards our 2024 EBITDA estimate by 6.3% to E746m (vs. E702m previously, +12.2% y-o-y), i.e. a margin of 10.7% (+50 bp), the analyst says.
The next CMD is scheduled for 13 November.
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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
As a reminder, Nexans recently announced the completion of its acquisition of the Italian company La Triveneta Cavi, mainly active in low and medium voltage cables.
We are integrating La Triveneta as of June 2024 (7 months then full year 2025). Our 2024 sales estimate is therefore E6,983m (vs. E6.6bn previously), including organic growth of 2.5% and a scope effect of 5%. We are revising upwards our 2024 EBITDA estimate by 6.3% to E746m (vs. E702m previously, +12.2% y-o-y), i.e. a margin of 10.7% (+50 bp), the analyst says.
The next CMD is scheduled for 13 November.
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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.