Nexans: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Nexans with a target price raised from E130 to E135, following a 4.
5% increase in its 2024 EBITDA estimate for the cable manufacturer.
Nexans' H1 performance was well above expectations and consensus, the analyst points out, highlighting a backlog that is good quality and provides good visibility.
Although the share price has increased 48% YTD, Oddo BHF believes that ITS valuation remains attractive, still reflecting a discount of 21% to peers and almost 20% to Prysmian.
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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.
5% increase in its 2024 EBITDA estimate for the cable manufacturer.
Nexans' H1 performance was well above expectations and consensus, the analyst points out, highlighting a backlog that is good quality and provides good visibility.
Although the share price has increased 48% YTD, Oddo BHF believes that ITS valuation remains attractive, still reflecting a discount of 21% to peers and almost 20% to Prysmian.
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.