Mersen: Oddo BHF cuts TP

(CercleFinance.com) - Oddo BHF confirms its medium-to-long-term 'outperform' rating on Mersen shares, while reducing its TP from E38 to E34, reflecting the group's investor day held last week.


Management's targets for 2029 are more conservative than those initially forecast for 2027, the analyst points out, reducing its sales and operating income from ordinary activities forecasts for the group over 2025 to 2027.

The stock's valuation remains moderate, reflecting strong de-rating over the past six months (around -50%), Oddo BHF says, noting that the stock is currently trading at a discount to its historical multiples and comparables.


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