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

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

(CercleFinance.com) – The Mersen share gained more than 2% as Oddo BHF reaffirmed its ‘outperformance’ view of the stock earlier in the day, with a price target raised from 32 to 33.5 euros, following the publication by the industrial group of a slightly higher than expected annual turnover.

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%)’.

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