Oddo BHF raises its opinion on Lectra from 'neutral' to 'outperform', with a price target raised from €26 to €36.5, believing that while the extent of the rebound in orders in 2024 remains uncertain, 'the low point seems behind us'.

'Depending on the pace of recovery, there is potential for an upward revision of the consensus. At the same time, Lectra is approaching 2024 with better fundamentals, while its balance sheet remains healthy, making it possible to consider further acquisitions", the analyst believes.

The valuation represents a good entry point in view of the potential for margin growth and the evolution of the business model, while a speculative scenario could possibly emerge in the medium term (managerial transition)", he continues.

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