(News Bulletin 247) – Oddo BHF reiterates its ‘outperformance’ opinion on Stef, with a price target raised from 120 to 130 euros, judging the valuation to be ‘still very reasonable’, after the publication by the logistics group of ‘very good half-year results despite a difficult context’.
Following this publication, the research department is adjusting its 2023 profitability scenario slightly upwards, now expecting an operating profit of 220 million euros, i.e. an operating margin of 5%, and a net profit group share of 163 million.
‘The group’s resilient business model, its ability to preserve margins in a less obvious context and the potential M&A to come encourage us to remain very positive on the file’, indicates the analyst in charge of the file.
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