Verallia: Oddo BHF cuts TP after profit warning
(CercleFinance.com) - Oddo BHF maintains its (MT) "outperform" rating on Verallia shares, but lowers its target price from E45 to E42, following the reduction of its estimates in the wake of the downward revision of the group's annual targets.
After a company contact, realising that it will be difficult to make up lost ground in H2, the broker lowered its own EBITDA estimate for 2024 by 13% to E870m, which would imply a 21.5% reduction.
Despite this disappointment and after revising our estimates downwards, the valuation remains modest and does not correspond to a normative year, the analyst judges, however, for whom the glass packaging manufacturer's fundamentals are not called into question.
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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.
After a company contact, realising that it will be difficult to make up lost ground in H2, the broker lowered its own EBITDA estimate for 2024 by 13% to E870m, which would imply a 21.5% reduction.
Despite this disappointment and after revising our estimates downwards, the valuation remains modest and does not correspond to a normative year, the analyst judges, however, for whom the glass packaging manufacturer's fundamentals are not called into question.
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.