Plastic Omnium: Invest Securities maintains buy rating
(CercleFinance.com) - Invest Securities reinstates its "buy" rating on Plastic Omnium shares, along with its target price of 28 euros, following the group's investor meeting on 12 May, at which it discussed its long-term strategy and financial outlook.
The impact of the arrival of the companies acquired in 2023 will only have a limited dilution on earnings and will probably even be accretive from 2024 onwards as VLC's EBITDA begins to recover, the analyst said.
While the broker considers that the portfolio of businesses is "well advanced", it is leaving its estimates for Plastic Omnium unchanged at this stage, although stresses that valuation multiples remain well below their five-year average.
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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 impact of the arrival of the companies acquired in 2023 will only have a limited dilution on earnings and will probably even be accretive from 2024 onwards as VLC's EBITDA begins to recover, the analyst said.
While the broker considers that the portfolio of businesses is "well advanced", it is leaving its estimates for Plastic Omnium unchanged at this stage, although stresses that valuation multiples remain well below their five-year average.
Copyright (c) 2022 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.