(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion on IDI with a price target raised from 70 to 75 euros, due to a reduction in the discount on the NAV (to 25% against 30% previously) that it applies in its valuation model.
The design office welcomes the sale of the stake in Flex Composite Group to Michelin, an operation ‘perfectly in line with the strategy of the IDI group’ and which ‘confirms the good momentum of portfolio rotation expected in 2023’.
According to him, the IDI will be able to carry out over the next few quarters other operations to sell historical holdings, in particular CFDP Assurances, Ateliers de France and Royalement votre editions, if good opportunities arise.
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