Trigano: Oddo BHF confirms its recommendation on the stock

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on Trigano shares, with an unchanged target price of 158 euros.


While Trigano reported a 17.4% drop in sales to 769.8 ME. for the 1st quarter, Oddo BHF believes that even if the drop is "more pronounced" than anticipated (6.6% difference vs. expectations) "it does not constitute a major surprise".

In fact, management had indicated at the time of the presentation of its annual results at the end of November that it would suffer in H1 from the impact of overstocking within distribution for around 4,000 vehicles, i.e. around 200 ME, reports the analyst.

In this context, the broker considers that the production adjustment effort was mainly achieved in Q1, and a normal pace is expected during Q2.

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