Thermador: Oddo BHF lowers its target price

(CercleFinance.com) - While maintaining its 'neutral' opinion on Thermador Groupe, Oddo BHF has lowered its price target from €90 to €88, in the wake of a downward adjustment to its 2024 forecasts for the wholesale distributor of plumbing equipment.


The research firm points out that sales fell by 16.1% to €271.5 million in the first half of 2024, a level below expectations, with activity in the same trend in the second quarter as in the first.

While the market environment was already complicated for Thermador Groupe in the first half, political uncertainty in France still limits visibility on the quality of the recovery over the coming quarters", warns the analyst.

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