Arkema: Oddo BHF trims target price

(CercleFinance.com) - Oddo BHF has confirmed its 'outperform' rating on Arkema shares, with a target price lowered from E100 to E97, following a publication that highlights the continued absence of any sign of recovery in demand, justifying a 4% reduction in its EPS forecasts.


The chemicals group has just published Q3 results that were close to expectations, with a demand environment that remained weak overall in the quarter, particularly in Europe and in September, the analyst says.

We are looking at a profit growth scenario based essentially on the successful execution of development projects, and highlighting valuation multiples that are sufficiently attractive to remain positive on the value, he adds.


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