Imerys: Oddo BHF cuts target price
(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Imerys shares, although reduces its target price for them from E67 to E61, after the broker described the mineral specialties group's H1 publication as mitigated.
While acknowledging a good Q2, with better-than-expected EBITDA and sales, the analyst also highlights guidance below market expectations due to TQC in H2.
The Imerys share will undeniably be under pressure, but we are convinced that it should rebound from today's lows, Oddo BHF moderates, which also points to a low valuation, trading at a 2024 EV/EBITDA multiple of around 5x.
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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.
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.
While acknowledging a good Q2, with better-than-expected EBITDA and sales, the analyst also highlights guidance below market expectations due to TQC in H2.
The Imerys share will undeniably be under pressure, but we are convinced that it should rebound from today's lows, Oddo BHF moderates, which also points to a low valuation, trading at a 2024 EV/EBITDA multiple of around 5x.
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.