Plastic Omnium: Invest Securities cuts target price
(CercleFinance.com) - Invest Securities reiterates its "buy" rating on Plastic Omnium shares, although has cut its corresponding target price (excluding the valuation of hydrogen assets) from 38 euros to 34 euros, after it overall reduced its 2021/22/23 EPS estimates by -33.
1%/-23.3%/+0%.
After the automotive suppler cut its guidelines for 2021, the analyst says that like most players in the OEM sector, Plastic Omnium has adjusted its forecasts following IHS' September global auto production announcement.
The stock's relative underperformance of since the beginning of 2021 (-17.1 points in July, -28.8 points to date) has deepened since the end of August, with multiples that are, despite reducing our EPS estimates, well below their five-year averages, he adds.
The share is currently down about 2% in Paris.
Copyright (c) 2021 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.
1%/-23.3%/+0%.
After the automotive suppler cut its guidelines for 2021, the analyst says that like most players in the OEM sector, Plastic Omnium has adjusted its forecasts following IHS' September global auto production announcement.
The stock's relative underperformance of since the beginning of 2021 (-17.1 points in July, -28.8 points to date) has deepened since the end of August, with multiples that are, despite reducing our EPS estimates, well below their five-year averages, he adds.
The share is currently down about 2% in Paris.
Copyright (c) 2021 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.