Mersen: Oddo BHF cuts TP
(CercleFinance.com) - Oddo BHF confirms its medium-to-long-term 'outperform' rating on Mersen shares, while reducing its TP from E38 to E34, reflecting the group's investor day held last week.
Management's targets for 2029 are more conservative than those initially forecast for 2027, the analyst points out, reducing its sales and operating income from ordinary activities forecasts for the group over 2025 to 2027.
The stock's valuation remains moderate, reflecting strong de-rating over the past six months (around -50%), Oddo BHF says, noting that the stock is currently trading at a discount to its historical multiples and comparables.
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 decision-making aids 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.
Management's targets for 2029 are more conservative than those initially forecast for 2027, the analyst points out, reducing its sales and operating income from ordinary activities forecasts for the group over 2025 to 2027.
The stock's valuation remains moderate, reflecting strong de-rating over the past six months (around -50%), Oddo BHF says, noting that the stock is currently trading at a discount to its historical multiples and comparables.
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 decision-making aids 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.