Eramet: Oddo remains positive, raises target price

(CercleFinance.com) - Oddo BHF confirms its "outperform" rating on Eramet shares, raising its target price for them from E141 to E143, which gives them upside potential of 52%, taking into account a lower-than-expected net debt for the mining and metallurgy group.


The broker justifies its positive stance by favourable momentum in traditional businesses, particularly manganese, against the backdrop of the recovery in China, and the potential in future metals, which it believes is still too poorly perceived by the market.

After the share's recent decline, its performance remains largely dependent on commodity prices, although the expected announcements on lithium and battery-quality nickel could enable the share appreciate again, the analyst says.


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