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Plastic Omnium: Invest Securities upgrades stock

(CercleFinance.com) - Invest Securities has upgraded its rating on the Plastic Omnium stock from "neutral" to "buy" and has raised its target price from 40 euros to 48 euros, meaning upside potential of +29%, welcoming the automotive equipment supplier increasing its stake in HBPO's capital.

This announcement has a significant accretive impact on our 2019 estimates, while the disposal of environmental businesses, which has already been announced, will strengthen Plastic Omnium's "pure-play" nature and profitability, the analyst believes.

Assuming the sale of the environmental division on 1 January 2019 and, at the same date, the acquisition of 33.33% of HPBO, the broker has raised its estimates by 26% in 2019, followed by 25% in 2020.

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