Plastic Omnium: Invest Securities says fall is 'excessive'

(CercleFinance.com) - Parisian broker Invest Securities has confirmed its buy rating on the share of automotive component supplier Plastic Omnium after the group's CMD.


Although analysts have cut their target price for the share from 28.5 euros to 27 euros, this still suggests upside potential of about 40%.
According to analysts, the group that is controlled and led by Burelle, expressed a message of confidence in a disrupted market during this event. In addition, the group's presentation of its outlook for 2018-2021 was keenly awaited, as Plastic Omnium is the first automotive supplier to detail its three-year market outlook and medium-term forecasts, analysts said in a note.

Invest Securities concludes, saying that the share's fall to under 25 euros seems excessive, which justifies analysts maintaining their buy rating on the stock.



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