OPmobility: Stifel remains positive, but cuts TP

(CercleFinance.com) - While maintaining its 'buy' recommendation on OPmobility (formerly Plastic Omnium), believing that in a downbeat sub-sector, it is resisting fairly well, Stifel lowers its target price from E17 to E13.


The broker believes that the automotive supplier's "soft guidance is at least summer-proofed", as the group is more exposed to North America, while its dependence on China is more limited than peers.

"Both semesters should be rather balanced in terms of margin (%) and FCF, albeit with a possibly small sequential improvement in 2H2024", Stifel continues, which is reducing its 2024-26 EPS estimates by 15% on average.


Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.