Exel Industries: annual results hailed by Oddo BHF

(CercleFinance.com) - Oddo BHF has reiterated its 'outperform' rating on and E72 target price for Exel Industries shares, hailing an 'excellent performance' with the publication of annual results above both its own expectations and the consensus.


The turnaround in results is mainly attributable to higher volumes in agricultural and industrial spraying, and higher selling prices offsetting higher production costs and overheads, it says.

The stock's valuation remains extremely modest, reflecting a 43% discount to historical ratios and a 35% discount to peers (for an historical discount of around 30%), the analyst adds, who also points to almost a 50% increase in its dividend.


Copyright (c) 2023 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.