(News Bulletin 247) – Oddo BHF confirms its ‘outperformance’ recommendation on Eramet while raising its target price from 141 to 143 euros, representing an upside potential of 52%, taking into account lower net debt than expected for the mining and metallurgical group.
The design office justifies its positive position by ‘favorable momentum in traditional activities, particularly manganese, against a backdrop of recovery in China, and on the potential in the metals of the future, still too poorly perceived by the market’.
“After the recent decline in the title, the stock market remains largely dependent on commodity prices, but the announcements expected on lithium and nickel battery quality could allow a revaluation of the title,” said the analyst.
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