Plastic Omnium: Invest Securities maintains buy rating

(CercleFinance.com) - Invest Securities maintains its "buy" rating on Plastic Omnium shares, along with its target price of 34 euros (current price: 23.
5 euros, +0.5%), following the automotive supplier's Q3 results, even though they came in below expectations.

However, the broker notes that the group's 2021 guidance remains unchanged from the September profit warning that led it to revise its 2021/23 EPS expectations by -33.1%/-23.3%/+0% respectively.

The analyst says that the stock's relative underperformance YTD is starting to be corrected (+1.6% over one month), with multiples that are, despite the broker's reduced EPS estimates, well below their five-year averages.



Copyright (c) 2021 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.