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Plastic Omnium: Oddo BHF maintains buy rating and target

(CercleFinance.com) - In a report on major French automotive suppliers, broker Oddo BHF has confirmed its buy rating advice on the Plastic Omnium stock.

The broker maintains its target price at 47 euros, meaning upside potential of 15%.

Analysts first praise Plastic Omnium for outperforming the automotive market in Q1, an outperformance that reaches 400 basis points - particularly in Asia - with the group even doing better than Valeo (outperformance of 200 points). This is despite a "particularly unfavourable" comparison basis, with a very dynamic Q1 2017, with currencies having weighed heavily this year.

Furthermore, the three French majors in the sector (Valeo, Plastic Omnium and Faurecia) all expect growth to accelerate in the coming quarters, which should boost margins.

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