Seb: Oddo BHF positive on professional activities

(CercleFinance.com) - Oddo BHF reiterates its 'outperform' rating on Seb, as well as its target price of 140 euros, judging that 'the professional activities constitute a factor supporting organic growth and a mix favorable to increased profitability'.


'The regularity and importance of free cash flow coupled with an already healthy balance sheet situation (net debt at 1.6 times EBITDA) are additional assets to strengthen through acquisition', adds the analyst.

After a disappointing stock market performance (-13%) since the beginning of June, Oddo BHF also considers that 'on the basis of an EV/EBIT ratio of 10.3 times 2024 and an FCF yield of nearly 7.7%, the valuation seems low'.

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