Bénéteau: Oddo BHF raises target price

(CercleFinance.com) - While maintaining its 'neutral' opinion on Bénéteau shares, Oddo BHF has raised its target price for them from E11 to E12 (cp: E9.
9, +14%), in the wake of EPS estimates for the 2024-2026 period raised by 30% on average for the pleasure boat manufacturer.

The broker hails the publication of higher-than-estimated sales for 2024, accompanied by operating income before non-recurring items expected by management to exceed its guidance, and points to a particularly low valuation.

Nevertheless, our opinion remains cautious, recalling that H1 will remain uncertain due to the continuing effects of distributor inventory reductions and a difficult context for Multihulls, the analyst warns.


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