(CercleFinance.com) – Oddo BHF maintains its ‘outperform’ rating on Arkema shares, with an unchanged price target of 110 euros after attending a meeting between the CEO and analysts.
The broker underlines the ‘good management’ of the company despite ‘a difficult context’ and indicates that visibility is still considered problematic, with no sign of recovery.
‘Arkema’s more downstream position can explain this cautious discourse from managers compared to other players in the sector’, judges Oddo BHF.
In this still uncertain context, EBITDA for Q1 2024 is only expected to be in line with Q4 2023 despite the positive seasonality. And the EBITDA guidance for 2024 is broad (1.5-1.7 Bn or +0-13%).
Oddo BHF nevertheless says it is confident in the group’s ability to stand out during the next cycle of demand recovery.
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