(News Bulletin 247) – Oddo BHF maintains its outperformance rating on the Coface share, with an unchanged price target of 14.5 euros.
Yesterday evening, Coface published revenues of 485 ME (+8.7% as published) for the 2nd quarter, slightly above expectations (481 ME).
‘Following the publication of its good NR, we are raising our 2023 NR forecast by around 5% to 237 ME, given the good momentum in terms of underwriting results, and we are raising our 2024 RN forecast by 3% to 217 ME assuming a gradual continuation of the normalization of the loss experience, ”indicates the analyst.
Oddo BHF believes that the stock continues to benefit from good technical profitability and offers a high yield.
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