Sika: Oddo BHF reduces target price

(CercleFinance.com) - Oddo BHF maintains its Outperform rating on shares of the Swiss building materials group Sika, albeit trimming its target price for them from 320 to 300 Swiss francs.


With Sika set to publish its Q2 results on 4 August, Oddo BHF expects sales of 2.9bn Swiss francs (+5.3% as reported and flat LFL).

Analysts expect H1 sales of 5.2bn Swiss francs and EBIT (incl. one-offs) down to 674m Swiss francs (-20% in actual terms), the analyst says.

The analyst believes that Sika should once again confirm its 2023 guidance.

However, analysts have lowered their annual estimates to take into account a slightly less dynamic Q2 (volumes) and MBCC integration costs in excess of 95m Swiss francs, Oddo BHF warns.


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