Trigano: Oddo still a buyer
(CercleFinance.com) - Oddo maintains its Outperform recommendation and target price of 130 euros for Trigano shares.
The group has many strengths, the analyst said, citing the size of its order book, resilient margins and a very favourable balance sheet (net cash position of around 350 million euros).
For the full year, Oddo notes that 2022 sales rose by 8.3% to 3,177.2 million euros, pretty much in flat LFL.
For 2023, Oddo believes that Trigano should benefit from a price increase that Oddo estimates at 7% (including a +2% embedded effect from 2022). However, in the current context, analysts' sales estimates remain deliberately cautious, expecting a 9.8% increase to 3.49 billion euros.
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