Trigano: Oddo BHF confirms buy rating
(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Trigano shares, with an unchanged target price of E158.
While Trigano reported a 17.4% drop in sales to E769.8m for Q1, Oddo BHF believes that even if the drop is "more pronounced" than anticipated (6.6% difference vs. expectations) it does not constitute a major surprise.
In fact, management had said on presenting its annual results at end-November that in H1 it would suffer from the impact of overstocking within distribution for around 4,000 vehicles, i.e. around E200m, the analyst says.
In this context, the broker considers that the production adjustment effort was mainly achieved in Q1, and a normal pace is expected in Q2.
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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.
While Trigano reported a 17.4% drop in sales to E769.8m for Q1, Oddo BHF believes that even if the drop is "more pronounced" than anticipated (6.6% difference vs. expectations) it does not constitute a major surprise.
In fact, management had said on presenting its annual results at end-November that in H1 it would suffer from the impact of overstocking within distribution for around 4,000 vehicles, i.e. around E200m, the analyst says.
In this context, the broker considers that the production adjustment effort was mainly achieved in Q1, and a normal pace is expected in Q2.
Copyright (c) 2025 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.