LDC: Oddo BHF raises TP after results
(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on LDC shares, increasing its target price for them from E130 to E140, following strong growth in its 2022-23 results, accompanied by the food group's confidence in its prospects.
Considering that the fundamentals have strengthened, the broker has raised its 2023-24 EPS estimate for the poultry specialist by 6.5%, targeting organic growth of 1.6%, driven by volumes and a margin of 5%.
The broker says that LDC remains well positioned as a leader in the French market, with a diversified product range and proven agility to overcome uncertainty about consumption trends, adding that the share's valuation remains inexpensive.
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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.
Considering that the fundamentals have strengthened, the broker has raised its 2023-24 EPS estimate for the poultry specialist by 6.5%, targeting organic growth of 1.6%, driven by volumes and a margin of 5%.
The broker says that LDC remains well positioned as a leader in the French market, with a diversified product range and proven agility to overcome uncertainty about consumption trends, adding that the share's valuation remains inexpensive.
Copyright (c) 2023 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.