OPmobility: Oddo BHF cuts TP
(CercleFinance.com) - Oddo BHF reaffirms its 'outperform' rating on OPmobility (ex-Plastic Omnium) shares, while lowering its target price from E14 to E12, in a note on European equipment manufacturers ahead of a results season expected to remain under pressure.
The upcoming publication season is unlikely to significantly improve sentiment around equipment manufacturers, and we are therefore maintaining our cautious stance on the segment, despite the clear underperformance since the start of the year, the analyst says.
While he acknowledges that OPmobility is not immune to the deteriorating environment, he feels that it is still, in relative terms, better positioned, given its more balanced earnings profile, better cost/cash track record and lower financial leverage.
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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.
The upcoming publication season is unlikely to significantly improve sentiment around equipment manufacturers, and we are therefore maintaining our cautious stance on the segment, despite the clear underperformance since the start of the year, the analyst says.
While he acknowledges that OPmobility is not immune to the deteriorating environment, he feels that it is still, in relative terms, better positioned, given its more balanced earnings profile, better cost/cash track record and lower financial leverage.
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.