LafargeHolcim: Oddo maintains 'Buy' after results
(CercleFinance.com) - Oddo confirms its 'Buy' recommendation on the share with a target price of CHF 68 after the announcement of results.
LafargeHolcim records stable turnover at 5830 million Swiss francs for the 1st quarter of 2018 (above consensus expectations of 5617 million).
Oddo underlines that underlying EBITDA is down 7.7% and emerges at 3.6% under consensus expectations with a margin of 12% (compared to 13.9% in the first quarter of 2017).
“Q1 has clearly been affected by exceptional circumstances (a 29% fall in organic EBITDA in Europe against a background of improving perspectives, a 30% fall in Africa-Middle East whilst the base effect eases in the second half of the year for example) and we remain convinced that the group will achieve its 2018 objectives (we expect EBITDA to rise like-for-like by 6.8% in 2018)” says Oddo in its daily review.
The group confirms its 2018 revenue growth targets of 3-5% and an increase of at least 5% in EBITDA like for like.
Copyright (c) 2018 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.
LafargeHolcim records stable turnover at 5830 million Swiss francs for the 1st quarter of 2018 (above consensus expectations of 5617 million).
Oddo underlines that underlying EBITDA is down 7.7% and emerges at 3.6% under consensus expectations with a margin of 12% (compared to 13.9% in the first quarter of 2017).
“Q1 has clearly been affected by exceptional circumstances (a 29% fall in organic EBITDA in Europe against a background of improving perspectives, a 30% fall in Africa-Middle East whilst the base effect eases in the second half of the year for example) and we remain convinced that the group will achieve its 2018 objectives (we expect EBITDA to rise like-for-like by 6.8% in 2018)” says Oddo in its daily review.
The group confirms its 2018 revenue growth targets of 3-5% and an increase of at least 5% in EBITDA like for like.
Copyright (c) 2018 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.