Marie Brizard: Oddo raises target price

(CercleFinance.com) - Oddo maintains its neutral rating on Marie Brizard Wine & Spirits shares, although has increased its target price for them to 1.
80 euro (from 1.50 euro). It says that the company's results are better than expected thanks to international business and lower holding costs.

Published last night, EBITDA of 7.6 million euros, up 27.2% exceeds analysts' expectations. Meanwhile, its operating margin increased by 140 bp to 8.8%.

These results have prompted analysts to revise their annual forecasts, with them raising sales and EBITDA estimates by 2% and 3 million euros respectively. They now expect organic growth of 4% (v. 2%e), which suggests 3% in H2.

However, increases in raw material and energy prices and variable supplier availability could affect the company's ability to supply all its customers and the resilience of consumer demand, the analyst warns.


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