Oddo BHF reaffirms its 'outperform' rating and 135 euro price target on Séché Environnement, following the publication of annual results in line with its expectations, with short- and medium-term targets confirmed.

The research firm points to the excellent performance of sales in France, with organic growth of 9.4% despite the reference effect, and a clear sequential improvement in performance, with a 14% rise in EBITDA in the second half.

"The valuation remains moderate (6.3 times EBITDA and 13.7 times EBIT 2024), showing a 13% discount to historical ratios. The roadmap confirms the continued improvement in margins", also notes the analyst.

Copyright (c) 2024 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.