Bénéteau: Oddo BHF raises its target price

(CercleFinance.com) - While maintaining its 'neutral' opinion on Bénéteau, Oddo BHF is raising its price target from 11 to 12 euros, in the wake of EPS estimates for the 2024-2026 period raised by 30% on average for the pleasure boat manufacturer.


The research department hails the publication of higher-than-estimated sales for 2024, accompanied by operating income before non-recurring items expected by management to exceed its guidance, and points to a "particularly low valuation".

"Nevertheless, our opinion remains cautious, recalling that the first half of the year will remain uncertain due to the continuing effects of distributor inventory reductions and a difficult context for Multihulls", warns the analyst.

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