Elis: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF reiterates its "outperform" rating on industrial cleaner Elis' shares, raising its target price for them from E22 to E24.
5, highlighting a discount of over 30% on these comparables, even though the group has demonstrated excellent FCF resilience in recent months.
In 2023, analysts note its sound capacity to pass on price increases and significant productivity effects. These factors, coupled with easing energy prices, will support 2024 results, the analyst says.
The broker also points to a reduction in the group's leverage (ND/EBITDA 2024 to 1.8x vs. 2.1x in 2023), which is compatible with an investment grade rating, which it believes will enable the company to resume a more aggressive acquisition strategy.
Copyright (c) 2023 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.
5, highlighting a discount of over 30% on these comparables, even though the group has demonstrated excellent FCF resilience in recent months.
In 2023, analysts note its sound capacity to pass on price increases and significant productivity effects. These factors, coupled with easing energy prices, will support 2024 results, the analyst says.
The broker also points to a reduction in the group's leverage (ND/EBITDA 2024 to 1.8x vs. 2.1x in 2023), which is compatible with an investment grade rating, which it believes will enable the company to resume a more aggressive acquisition strategy.
Copyright (c) 2023 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.