Arkema: Oddo BHF trims target price
(CercleFinance.com) - Oddo BHF has confirmed its 'outperform' rating on Arkema shares, with a target price lowered from E100 to E97, following a publication that highlights the continued absence of any sign of recovery in demand, justifying a 4% reduction in its EPS forecasts.
The chemicals group has just published Q3 results that were close to expectations, with a demand environment that remained weak overall in the quarter, particularly in Europe and in September, the analyst says.
We are looking at a profit growth scenario based essentially on the successful execution of development projects, and highlighting valuation multiples that are sufficiently attractive to remain positive on the value, he adds.
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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 chemicals group has just published Q3 results that were close to expectations, with a demand environment that remained weak overall in the quarter, particularly in Europe and in September, the analyst says.
We are looking at a profit growth scenario based essentially on the successful execution of development projects, and highlighting valuation multiples that are sufficiently attractive to remain positive on the value, he adds.
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.