Manitou: up again, as Portzamparc's favourite stock
(CercleFinance.com) - Forklift manufacturer Manitou posted a fourth consecutive session of gains on the Paris Bourse on Thursday, as Portzamparc analysts added the stock to their list of preferred small and mid-cap stocks ('High Five') this week.
In a note published yesterday, Portzamparc - which has a reinforce rating and a target price of E29 - said that it still considered the group's outlook to be cautious.
The broker points out that all production in North America (which represents 21% of sales) is tending to run out, and notes that business in Southern Europe (34% of sales, including France) is holding up better than expected.
It also points out that the stock is currently trading on the basis of an EV/Ebitda multiple of 5.5x, compared with a five-year average of 9.4x.
It also points out that the stock is trading at a P/E of 9.2x, compared with an historical average of 12.2x.
His target price gives it 22% upside potential.
Around 3pm, Manitou was up 0.6%, bringing its total gains since the start of the WEEK to over 17%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
In a note published yesterday, Portzamparc - which has a reinforce rating and a target price of E29 - said that it still considered the group's outlook to be cautious.
The broker points out that all production in North America (which represents 21% of sales) is tending to run out, and notes that business in Southern Europe (34% of sales, including France) is holding up better than expected.
It also points out that the stock is currently trading on the basis of an EV/Ebitda multiple of 5.5x, compared with a five-year average of 9.4x.
It also points out that the stock is trading at a P/E of 9.2x, compared with an historical average of 12.2x.
His target price gives it 22% upside potential.
Around 3pm, Manitou was up 0.6%, bringing its total gains since the start of the WEEK to over 17%.
Copyright (c) 2024 CercleFinance.com. All rights reserved.