Arkema: Oddo BHF still a buyer, cuts TP

(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on Arkema shares, while lowering its target price from E120 to E100, after a 10% average reduction in its 3-year EPS forecasts for the chemicals group.


The broker explains that this takes into account the tightening down 2024 EBITDA guidance on its Q2 results at the beginning of August, and the continued absence of any sign of recovery in demand at the end of the summer.

We are now looking at a profit growth scenario based on the successful execution of development projects, with valuation multiples that are sufficiently attractive to remain positive on the stock, the analyst continues.


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.