Coface: Oddo BHF raises target price

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on Coface shares, with a target price raised from E15.
7 to E16.4, taking into account its increased EPS forecasts, resulting from an increased revenue growth forecast.

Following the credit insurance company's annual results, the broker highlights a return to revenue growth in Q4 (+4%), as well as continued excellent technical profitability.

Oddo BHF also hails very good net profit, in line with expectations, as well as a balance sheet that is still solid, with a dividend per share of E1.40 for the past year, very close to expectations, in its view.


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