Nexity: Oddo upgrades stock

(CercleFinance.com) - Oddo has upgraded its rating on the Nexity stock from "neutral" to "buy," while raising its target price from 55 euros to 65 euros, the day after an investor day at which the group detailed its growth strategy and its financial targets through to 2021.


The broker definitely thinks that the market's perception of Nexity is improving with the group having a capacity to significantly increase its market share in a sector that at times is volatile, with a growth profile that is now a lot steadier, said the analyst.

Analysts have increased their 2018-2020 Ebitda estimates by 10%, while they add that the stock's return remains comfortable over the medium term (4.7%), pointing out a generous cash distribution policy to shareholders.



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