(News Bulletin 247) – Oddo BHF maintains its Outperformance recommendation on the Exel Industries stock and its price target of 80E.
The acquisition by Exel of 81% of the capital of the company Devaux, which specializes in the manufacture and marketing of garden tools and which posts a turnover of 12 ME, is of course at the heart of the analysis of Oddo BHF.
This operation should contribute positively to the results ‘probable relution, margins a priori close’, lists the broker, while no quantified information has been communicated on the amount of the transaction. ‘This one is probably at a level below 10 ME.’
“The group has solid prospects,” continues Oddo BHF. ‘The 2022/23 financial year is secure as well as part of the 2023/24 financial year. For the year as a whole, we confirm our estimate of 52 ME in trading profit.’
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