(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion on Chargeurs, but reduces its price target from 23 to 19 euros, after a quarterly activity report which led it to revise its EPS sequence down by 18% on average for the group.
Following this publication, the design office is adjusting its estimates for 2023 downwards and is now expecting sales of 769 million euros, up 3% (+2% on a comparable basis) and COI of 44.4 million. , representing an operating margin of 5.8%.
“This first quarter is logically disappointing in the short term, but the momentum should become positive again from the second half and the announcement of a structuring acquisition in luxury could also be a good catalyst for the title,” tempers the analyst.
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