Plastic Omnium gained more than 3% in Paris, as Stifel confirmed its 'hold' recommendation on the stock, with a price target raised from 16 to 19 euros.

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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