Eramet: strikes gold in market, with Oddo upgrade

(CercleFinance.com) - Eramet is leading the SBF 120 index on Wednesday in Paris, with the stock benefiting from a rating upgrade by Oddo BHF, which is now a buyer of the stock.


The share of the mining and metallurgy group is currently jumping over 12%, steaming ahead of the SBF (down 0.1%) in a cautious market before the Fed's announcements, due this evening.

Oddo has upgraded its rating on the stock to "outperform" from "neutral", hugely boosting its target price from 86 euros to 141 euros, representing upside potential of 54% from Tuesday's closing price.

Acknowledging that Eramet's stockmarket performance has so far been "mixed", due to a portfolio of activities focused on traditional metals (mainly manganese and nickel), the broker believes that the company nevertheless has all the makings of a great company.



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