Plastic Omnium: Oddo raises target price

(CercleFinance.com) - Oddo BHF reinstates its "outperform" rating on the Plastic Omnium share, having increased its corresponding target price from 34 euros to 38 euros, taking into account higher estimates, lower debt, the cancellation of around 1% of its capital and higher multiples.


The broker said that it is increasingly convinced that the equipment manufacturer is among the best placed to benefit from the improved environment (including M&As), thanks to the significant work in cost reductions carried out and the very healthy financial situation.

It adds that over the longer term, it continues to appreciate the group's positioning on hydrogen and the underlying potential (which it has not yet integrated), while fears on the CES division seem exaggerated.

The market seems to agree - the share has taken the lead in Paris, up over 5% after lunch on Friday.


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