Nexans: Oddo raises target price

(CercleFinance.com) - Oddo says that Nexans has confirmed its targets for 2020, including EBITDA of 320-360 million euros, ROCE of 8% to 10% and FCF >100 million euros, above its previous guidance (50/100 million euros).


The next roadmap will be presented at a CMD on 17 February, the broker says.
Analysts are looking for a 2021 Ebitda of 432 million euros (+27%) and 463 million euros for 2022.

In these conditions, Oddo maintains its buy rating on the Nexans share, having increased its corresponding target price to 73 euros (8% upside potential), from 54 euros previously.


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