Trigano: Oddo BHF reduces TP

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Trigano shares, with a target price reduced from E195 to E180.


The analyst reports that the Trigano group has published Q3 sales up 10.8% to E1146.2m (3.7% above Oddo BHF's estimate of E1105.1m).

For the full year, management has said that it expects good sales growth. As previously mentioned, our sales estimates suggest up to 10% business growth in 2024 to E3,846m, the broker comments.

Incorporating a conservative scenario for 2024/25, Oddo BHF has reduced its EPS forecasts by 7.1%.

Valuation remains very low, reflecting uncertainties about growth in the coming year, the analyst concludes.


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