Bureau Veritas: Oddo confirms rating and target price
(CercleFinance.com) - Oddo confirms its buy rating on the stock, with a target price of 24 euros.
Analysts say that the stock's discount to peers should be reduced as the group delivers in terms of margin improvements and cash generation.
The broker believes that organic growth will remain solid in 2019, thanks to the recovery of cyclical activities and resilience to risks on both consumers, China and Europe.
Oddo also says that the improvement in the group's margin is finally materialising, thanks to the group's favourable product mix, with the broker saying that BV's 2020 target is credible.
In its daily equity report, Oddo says that the group has real potential for improvements in generating FCF. The broker also estimates that it has a disciplined M&A policy, with an increased focus on leverage.
Copyright (c) 2019 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.
Analysts say that the stock's discount to peers should be reduced as the group delivers in terms of margin improvements and cash generation.
The broker believes that organic growth will remain solid in 2019, thanks to the recovery of cyclical activities and resilience to risks on both consumers, China and Europe.
Oddo also says that the improvement in the group's margin is finally materialising, thanks to the group's favourable product mix, with the broker saying that BV's 2020 target is credible.
In its daily equity report, Oddo says that the group has real potential for improvements in generating FCF. The broker also estimates that it has a disciplined M&A policy, with an increased focus on leverage.
Copyright (c) 2019 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.