Photo credit © Quadient
(Boursier.com) — Quadient is stable at 19 euros this Wednesday, while AlphaValue is to be ‘reduced’ on the file with a price target of 20.30 euros in the wake of the company’s annual update… Management is planning for the 2024 financial year on prospects for organic growth, both in terms of its turnover and that of its current operating profit excluding charges linked to acquisitions. Additional financial objectives, as well as a strategic vision of its three-year trajectory, will be presented during the Capital Markets Day on June 19 next.
Oddo BHF (‘outperform’) highlights a valuation that remains moderate (4.8x EBITDA and 7.7x 2024 EBIT, discount of 34% vs. historical ratios). The shareholding has recently evolved with Bpifrance (8%) and VESA Equity Investment (D. Kretinsky) which has just crossed 10%. Note the appointment of a new representative of Bpifrance within the Board of Directors as an independent administration…
Portzamparc (‘buy’) speaks of a 2023 financial year “generally in line with two welcome confirmations: the rebound in profitability and the achievement of break-even for ICA”.
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