Mersen: earns more than 2%, a broker raises his target

Mersen: earns more than 2%, a broker raises his target

The Mersen share gained more than 2% while earlier in the day, Oddo BHF reaffirmed its ‘outperformance’ opinion on the share, with a price target raised from 32 to 33.5 euros, following the publication by the industrial group of an annual turnover slightly higher than its expectations.The broker explains that he is betting on « an improvement in the group’s performance in a less deteriorated context with better business resilience for almost 50% of the business (renewable energies, transport with electric vehicles, electronics division, etc.) » The research department also considers that « the valuation remains modest (6.3 times the EBITDA 2021 and 11 times the EBIT) in view of the potential for recovery in the group’s margins (potentially above 10%) ». Copyright (c) 2021 CercleFinance.com. All rights reserved.

The Mersen share gains more than 2% while earlier in the day, Oddo BHF reaffirmed its ‘outperformance’ opinion on the share, with a price target raised from 32 to 33.5 euros, following the publication by the industrial group of an annual turnover slightly higher than its expectations.

The broker explains that he is betting on « an improvement in the group’s performance in a less deteriorated context with better business resilience for nearly 50% of the business (renewable energies, transport with electric vehicles, electronics division, etc.) ».

The research department also considers that ‘the valuation remains modest (6.3 times 2021 EBITDA and 11 times EBIT) in view of the potential for recovery of the group’s margins (potentially above 10%)’.

Copyright (c) 2021 CercleFinance.com. All rights reserved.

Mersen: earns more than 2%, a broker raises his target
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