Eramet : Oddo BHF adjusts TP, but remains positive

(CercleFinance.com) - Despite a TP cut from E87 to E81, Oddo BHF is maintaining its 'outperform' rating on Eramet shares, following a roadshow that revealed a solid performance in a mixed context, and positive signals on prices and business scope.


Eramet retains solid strengths, with leading positions in its four main activities, mines that are well positioned in terms of costs, and attractive long-term exposure to the energy transition, the analyst judges.

However, the broker has reduced its target price due to weaker cash generation and a reduction in value linked to Centenario's expansion in the face of still-low prices and the group's constrained leeway.


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