Stef: share up on broker's comments
(CercleFinance.com) - After its sharp rise of over 10% on Friday, the Stef share is up another 5% or so on Mondayn, boosted by upbeat comments made by broker Oddo BHF, which has confirmed its "buy" rating on the stock, raising its corresponding target price from 94 euros to 98 euros, reviewing the results published by the European leader in temperature sensitive logistics last week.
The broker notes a solid outlook for the group's core business activities, albeit with uncertainties in its maritime business. It also notes sound organic growth in France and abroad, boosted by M&A, and sound visibility - except in the maritime sector.
Note that on Friday Oddo BHF upgraded its rating on the share from "neutral" to "buy," praising the group's operating profit of 67.4 million euros, which exceeded the consensus of 52 million euros, meaning a sharp 90-bp increase in its margin to 4%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker notes a solid outlook for the group's core business activities, albeit with uncertainties in its maritime business. It also notes sound organic growth in France and abroad, boosted by M&A, and sound visibility - except in the maritime sector.
Note that on Friday Oddo BHF upgraded its rating on the share from "neutral" to "buy," praising the group's operating profit of 67.4 million euros, which exceeded the consensus of 52 million euros, meaning a sharp 90-bp increase in its margin to 4%.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.