(News Bulletin 247) – Oddo BHF indicates that ID Logistics is included in its list of ‘Nextcaps H2 2023’ convictions, reiterating its ‘outperformance’ recommendation and its price target of 350 euros, which offers upside potential of 45% for the title of the contract logistics group.
‘The title has returned to much more reasonable levels following the drop this summer with a 2023 EV/EBITDA multiple excluding IFRS 16 of less than nine times’, points out the analyst, also estimating that ‘momentum will become more positive again in second semester’.
It expects better organic growth following the overrun of inflation peaks, leverage on margins with the accretive effect of M&A and the international sales mix, as well as the deployment of significant contracts in the United States and UK.
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