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Imerys: Oddo still a buyer - raises target price

(CercleFinance.com) - Oddo BHF maintains its buy rating on Imerys shares, having increased its corresponding target price from 40 euros to 45 euros, believing that 2021 will be a key year to win back the lost hearts of investors, with the group once again becoming the industrial minerals gem of yesteryear.


The first half of the year will be rich, the analyst says, who over this period expects the epilogue of asbestos litigation in the United States and a CMD unveiling a strategy where the group could, he believes, announce its intention to split from its paper business.

The icing on the cake is that the broker's modeling points towards a strong rebound in volumes from the first quarter. Over the longer term, the group could, it says, decide to reduce its industrial exposure. It adds that Calderys is a credible candidate.


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