Maurel & Prom: Oddo BHF raises its target price

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Maurel & Prom shares, raising its target price from E4.
5 to E5.2.

The group reported H1 sales of $412m (+38% YoY), with net income, group share of $101m, up 91% YoY.

The group's financial situation is no longer an issue, and M&P can resume its M&A initiatives (following the Gabonese government's pre-emption of the Assala assets targeted by M&P), the analyst says.

Oddo BHF adds that cash generation was very strong over the half-year, at $116m (including $40m in dividends received and $44m in asset disposals).


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