Oddo BHF has reaffirmed its 'outperform' opinion on Séché Environnement, a stock included in its mid-cap selection for the first half of 2023 (Convictions Midcap S1 2023), with a price target raised from €130 to €135.

From its discussions at the Nextcap forum, the analyst notes that management's comments are in line with first-quarter trends, confirming continued growth both in France and internationally, and good control of margins.

Despite its remarkable stock market performance, the company's valuation remains modest, showing a 12% discount to historical ratios, while growth momentum is confirmed (TMVA 2022/25 +14% for EBIT)", he adds.

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