Nexans: Oddo raises target price

(CercleFinance.com) - Oddo maintains its "neutral" rating on Nexans shares, while raising its target price for them from 90 to 95 euros.


Based on organic growth of 5.1% (13.2% excluding the metallurgy business), the group's H1 EBITDA margin improved by 200 bp to 9.1% (vs. 7.1%), the analyst points out, who also highlights the excellent performance of the Generation/Transmission business, with an EBITDA margin of 18%.

Around 50% of the improvement in EBITDA can be attributed to structural factors, Oddo says.

Oddo has increased its 2022 EBITDA estimate by 9% to 576 million euros (compared with 530 million euros previously), i.e. a margin of 8.9%.


Copyright (c) 2022 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.