Deutsche Bank announced on Thursday that it had lowered its price target for Plastic Omnium from €16 to €14, while renewing its 'hold' recommendation on the stock.

After the warning that accompanied the publication of Q3 results, the analyst said that he expected the French group to target an 'outperformance' of its business in relation to global automotive production in 2024.

While it explains that the equipment manufacturer should benefit from the implementation of operational efficiency measures, the research department still anticipates significant inflationary pressure on costs, which leads it to revise down its earnings forecasts for 2024 and to reduce its price target accordingly.

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