Plastic Omnium: share price rises, broker raises target
The analyst believes that momentum in Q2 should be in line with the previous quarter, and is raising its 2023/24E EPS guidance by an average of around 11%.
Our LVP assumptions are now more constructive (2023 +3.5% vs. +0.5% previously) and therefore more in line with consensus expectations for 2023/24E and the company's guidance for the year", notes the broker.
Stifel is therefore targeting sales of 5.3 billion euros, up 19% year-on-year.
However, the analyst's office maintains its 'Hold' rating, as 'we see fewer catalysts for Plastic Omnium than among some of its peers'.
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