Rubis: share price falls, Oddo BHF lowers its forecasts

(CercleFinance.com) - Rubis shares fall by more than 10% following the publication of its results.
Following this publication, Oddo BHF maintains its 'outperform' rating on the stock, with a price target reduced from €39 to €35.

Last night, Rubis published net earnings down 24% year-on-year (-4% on a comparable basis), below Oddo BHF's expectations, which were somewhat surprised by the divisions' operating performances.

While the 2024 guidance has been confirmed, the analyst is revising his earnings forecasts downwards, with EBITDA down 4% and net income down 15% on average over 2023-2025 on a like-for-like basis.

' The strategy pursued to date is not bearing fruit, which could prompt shareholders with an activist profile to step up their pressure", concludes the broker.

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