Oddo BHF reaffirms its 'outperform' rating and 30 euro price target on Lisi, seeing the fasteners and assembly components manufacturer as 'a good profile for 2024', following recent discussions with management.

The research firm notes from these discussions that Lisi should benefit fully from the sales price increases currently being negotiated, a trend which it believes 'should favorably impact the 2024 earnings growth dynamic'.

On the basis of a recovery in margins in 2024, Oddo BHF believes that Lisi's valuation is in line with its historical references, but at a discount to its comparables, while it assumes an EBIT TMVA of +13.6% over the 2022/25 period.

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