Plastic Omnium: Invest Securities raises target price

(CercleFinance.com) - Invest Securities maintains its "buy" rating on Plastic Omnium shares, having raised its target price for them from E17.
2 to E24.3, following 2022 results that mark a clear change of tone, with a more confident message for 2023 and 2024.

The group's positioning on new high-growth businesses has led analysts to raise their sales growth forecasts, it says, who have increased their 2023-24 EPS estimates by +7.7%/+13.6%.

Invest Securities also highlights a dividend raised to 0.39 euro per share, representing a payout ratio that is supported by free cash flow, with a new medium-term forecast of 30%/35% against 25% previously.



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