(News Bulletin 247) – Oddo BHF reaffirms its ‘outperformance’ opinion and its target price of 30 euros on Lisi, seeing in the manufacturer of fasteners and assembly components ‘a good profile for 2024’, after recent exchanges with management.
The design office retains from these exchanges that Lisi should fully benefit from the sales price increases under negotiation, a trend which, according to him, ‘should have a positive impact on the dynamics of profit growth in 2024’.
Based on a recovery in margins in 2024, Oddo BHF estimates that Lisi’s valuation is in line with its historical references, but with a discount compared to its comparables, while it retains an EBIT CAGR of + 13.6% over the 2022/25 period.
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