(CercleFinance.com) – The stock dropped almost -1% at the end of the day, while Oddo BHF reaffirmed this morning its ‘underperformance’ opinion and its price target of 4.5 euros the day after the publication of quarterly turnover up 24% to 141 million euros, a ‘mixed’ level compared to the design office’s expectations.
“After over-investment and the health crisis, the group is coming up against significant operational constraints hampering the rebound in its results in a context of very sustained demand and the development of competition”, points out the analyst.
Oddo also considers that the high indebtedness on the aerial work platform supplier’s balance sheet ‘also constitutes a negative point on the file’. He leaves his earnings forecasts unchanged after this publication.
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