(News Bulletin 247) – AlphaValue lowered its recommendation on Eramet shares on Friday, reduced to ‘reduce’ against ‘accumulate’ so far, with a price target reduced from 76.5 to 68.9 euros.
In a note released at midday, the research department explains that the valuation of the mining group will necessarily be affected by the geopolitical risk.
Although it recognizes that the situation could quickly evolve, in one direction or the other, AlphaValue considers that its change of target is for the moment moderate, wanting to give the company the ‘benefit of the doubt’ in the face of the uncertainties surrounding the future of Gabon and the evolution of its relations with the French group.
But the independent firm stresses that these troubles arise in an already delicate context for Eramet, faced with a decline in commodity prices in all its businesses, which had already led AlphaValue to lower its price target at the beginning of August. .
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