Delfingen: Oddo BHF remains positive, adjusts its target

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' opinion on Delfingen, while lowering its target price from €41 to €34, the day after the company reported lower-than-expected quarterly sales in 'a still difficult market environment in the automotive and industrial sectors'.


2024 and 2025 will remain difficult before a potential rebound in 2026, mainly thanks to the initiatives taken by the Group as part of its Impulse 2026 plan", believes the analyst, who is adjusting his 2024 scenario downwards.

Oddo BHF nevertheless sees in its price target 'a significant upside to play the stock in a medium-term approach (EV/EBIT 2026 less than five times), even if in the short term the sluggishness of the automotive market should still weigh'.

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