Eramet: Oddo maintains buy rating, increases TP
(CercleFinance.com) - Oddo BHF reiterates its "buy" rating on the Eramet share, while increasing its corresponding target price from 56 euros to 60 euros, the day after the cancellation of the agreement to sell Tizir to Tronox, in return for a termination fee of 18 million dollars.
The broker reintegrates Tizir's contribution (previously deconsolidated at the end of 2021) into its expectations. It says that eyes are turning to Aubert & Duval, considering that its sale is now crucial to ensure the group's financial health.
The broker says that Eramet's financial and operational situation remains complicated, although it expects the implementation of catalysts as from 2021, while there is now a tangible rise in nickel and manganese prices.
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