Bastide: Oddo BHF upgrades stock, raises TP

(CercleFinance.com) - Oddo BHF upgrades its rating on Bastide shares from 'neutral' to 'outperform', with a target price raised from E25.
5 to E27.

The analyst reports that the share price has fallen sharply since debt levels were deemed by consensus to be too high and limiting. The share price has thus lost almost 60% since the beginning of 2021.

Now engaged in a process of deleveraging with divestments, synonymous with a reduction in leverage, Bastide should enter a positive phase characterized by a very healthy growth dynamic in Services, relayed by mix effects enabling margin increases to be anticipated, Oddo BHF says.

The analyst believes that the financial risk, linked to debt, and the low stockmarket liquidity (small cap syndrome observed for almost 4 years) are 'exaggerated'.


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