Schneider: Oddo still a buyer after CMD

(CercleFinance.com) - The group held a CMD yesterday, at which it unveiled its new MT targets.


In particular, the company is aiming for organic growth of 5%-8% p.a. over 2022-24 (vs. a previous MT target of 3%-6%), which is in line with the broker's expectations (average of 6.7% organic growth p.a. over 2022-25), Oddo says.

It also expects its adjusted EBIT margin to continue to improve, reaching around 17% this year, therefore expecting an 30-70 bp increase over 2022-24, which is slightly higher than analysts' expectations (30-50 bp expected per year), the broker adds.

Oddo expects an adjusted EBIT margin of 18.3% in 2024 (17% in 2021).

The analyst confirms an Outperform rating on the stock with a target price of 175 euros (current price: 159 euros, +2%).


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