Oddo BHF has confrmed its 'outperform' rating on Groupe Crit shares, along with its €83 target price, following the publication of 2024 results that exceeded its expectations, with the broker highlighting the payment of a dividend of €6 per share.
Also noting a real surprise with a 9% rise in EBITDA and a limited 60bp drop in EBITDA margin, it adds that its EBITDA estimate should be raised by at least 10% to nearly €160m for 2025.
Valuation remains extremely moderate at 2.9x 2025 EBITDA and 4.1x 2025 EBIT before upward revision of our estimates, i.e. a discount of 45% to historical ratios and 40% to peer, it adds.
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