EUROAPI : Oddo lowers its target price
Following this announcement, Oddo BHF confirms its Underperform opinion on the share and lowers its target price from E6 to E2.9.
' The duration of this shutdown is not yet known, but management has undertaken to provide the market with a little more visibility during the 2nd quarter', says Oddo BHF.
The Group is suspending its 2024 guidance, i.e. sales declining by between -4 and -7% and a core EBITDA margin of between 6 and 9%.
' We have therefore decided to adjust our estimates downwards by deducting 52 ME from our topline
(only 2 months of sales over the full year of the site taking 2023 into account), which leads us to come out with an 11% drop in sales (compared with -6% init) for a margin now of 5.9% (compared with 7.9% init)' indicates Oddo BHF.
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