Coface: Oddo raises target price
(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Coface shares, having nudged up its target price for them from 13.
3 euros to 14 euros, considering that it has increased its earnings estimate for the credit insurance company, in addition to healthy business.
The broker believes that the group's claims experience should remain excellent in Q2 2022, and that its balance sheet remains very solid, with a solvency margin at end-June that remains very comfortable.
Oddo says that with claims gradually getting back to normal in H2 2022, the stock should continue to offer a very high yield and benefit from long-term growth levers.
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