Stef: Oddo BHF still a buyer, trims TP

(CercleFinance.com) - Oddo BHF maintains its 'outperform' opinion on Stef shares, with a target price reduced from E160 to E155, following a reduction in its 2025 scenario for the cold transport and logistics group.


The broker now expects sales of E4,962m, up 3.4% (+2% on a comparable basis), operating income of E233m, down 10 basis points to 4.7%, and net income, group share of E150m.

The current valuation remains very reasonable (2025 P/E of 10x) and still offers interesting potential for a group with a defensive profile, leader in its markets and with a good vision for further European expansion, the analyst adds.


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