Clariane: price target confirmed by Oddo BHF

(CercleFinance.com) - Oddo BHF maintains its 'neutral' rating on Clariane shares, with an unchanged target price of 1.
8 euros, citing 'a satisfactory publication' and 'a rather positive impression'.

As a reminder, Clariane reported Q4 sales of 1,350 ME (+2.6% on a reported basis ie. +7%e pro forma), i.e. 5,282 ME for the year (Css: 5,283 MEe), and guidance on organic growth of 5% and pre-IFRS 16 EBITDA up from 6% to 9%.

Clariane also reiterates its 2026 guidance: 5%/year growth and a 100 to 150 bp gain in EBITDA margin pre-IFRS 16 and on a pro forma basis of divestments, compared with end 2023 (12.2%).

On first reading, we can say that Clariane is on track with its guidance, that the operational turnaround is being driven by Germany and the Netherlands, and that debt remains the focus," concludes the broker.


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