Holcim: Oddo BHF remains positive before the quarterly

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(CercleFinance.com) – Oddo BHF reaffirms its ‘outperform’ opinion on Holcim, still seeing potential compared to its price target maintained at 100 Swiss francs, before the activity update for the third quarter of 2024 scheduled for October 25 before Stock Exchange.

For this period, the research office indicates that it expects an EBIT of 1,616 million Swiss francs (-5.6% in real terms and +4.7% at constant scope and exchange rates) and a turnover of 7,206 million ( stable as published and -0.5% organically).

‘The split of the American activities will make it possible to crystallize value in the medium term thanks to the distribution of a significant dividend (implicit valuation of Holcim Europe at the current price at only five times the EV/EBITDA)’, he estimates furthermore.

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