Oddo BHF has added ID Logistics to its 'Nextcaps S2 2023' conviction list, reiterating its 'outperform' recommendation and its price target of 350 euros, which offers potential upside of 45% for the contract logistics group's stock.

The stock has returned to much more reasonable levels following this summer's decline, with an EV/EBITDA 2023 multiple excluding IFRS 16 of less than nine times", points out the analyst, who also believes that "momentum will become more positive again in the second half of the year".

Indeed, he expects better organic growth following the overcoming of inflation peaks, leverage on margins with the accretive effect of M&A and the international sales mix, as well as the roll-out of significant contracts in the United States and the United Kingdom.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.