(News Bulletin 247) – While reaffirming its ‘outperformance’ opinion on Eramet, Oddo BHF lowered its target price from 137 to 126 euros, in the wake of a downward revision of its 2023 expectations, now below the guidance of the mining and metallurgical group.
Pointing to a degraded market environment, and with no real improvement expected in the second half, the research office estimates that the momentum remains negative over the coming months, and is 28% below the 2023 consensus.
Oddo BHF nevertheless remains positive on the value, considering that it remains very undervalued compared to its competitors, with a discount which seems to it ‘excessive in view of the growth prospects linked in particular to the Argentine lithium project’.
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