Oddo BHF confirms its 'outperform' opinion and its price target of 24 euros (excluding the Australian contract) on Exail Technologies, a stock included in its 'European Nextcap' list, pointing to the visibility of its business, thanks in particular to its exposure to defense.

Earnings growth (average annual EBITDA growth of 19% forecast for 2023-26) should enable the company to begin a rapid deleveraging process (DN/EBITDA ratio excluding ICG at once expected in 2026)", believes the analyst in charge of the file.

In the short term, the possibility of a new mega-contract with the Australian Navy in the field of mine countermeasures would represent an additional upside of seven euros per share, and would send out a strong signal with a view to forthcoming calls for tender", he adds.

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