Holcim: Oddo BHF remains positive ahead of Q3 results

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Holcim shares, seeing further potential relative to its target price (maintained at 100 CHF), ahead of the group's Q3 2024 trading update, before the market opens on 25 October.


For this period, the broker expects EBIT of 1,616m CHF (-5.6% as reported basis and +4.7% LFL) ON sales of 7,206m CHF (stable as reported and -0.5% on an organic basis).

The demerger of the US activities will enable value to be crystallised in the medium term, thanks to a substantial dividend payout (implicit valuation of Holcim Europe at the current price at only 5x EV/EBITDA), it adds.


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