Aperam: Oddo BHF upgrades stock
(CercleFinance.com) - Oddo BHF has upgraded Aperam shares from "underperform" to "neutral", boosting its target price for them from E24 to E32, in its comments about the European stainless steel producer.
The analyst says that in a global sector that has been considerably weakened by the emergence of Indonesia, he welcomes the recent strengthening of customs barriers in Europe, which should have a significant impact, with the recovery in demand expected in 2024.
At a time when the sector is at a low, Oddo BHF believes that the time is right to reinvest in the sector, although it prefers Outokumpu (attractive valuation) and Acerinox (quality of mix) above Aperam.
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