(CercleFinance.com) – While maintaining its ‘outperformance’ opinion on Eramet, Oddo BHF lowers its price target from 89 to 85 euros in the wake of its estimates, judging that ‘headwinds (nickel and lithium falling and euro increasing) accumulate’.
Although it believes that Eramet should achieve all its production targets for 2023 and expects good production in 2024, the research office judges that raw materials remain poorly oriented and sees real risks of a decline in consensus.
According to Oddo BHF, the metals group nevertheless presents ‘a good medium-term story thanks to the quality of its deposits and the coming months should be punctuated by positive triggers (possible disengagement of SLN, opening of the lithium project in Argentina)’.
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