Oddo BHF has reaffirmed its 'outperform' rating and 21 euro price target on Bénéteau, following the yacht manufacturer's publication of 'excellent half-year results', with an improved outlook for the year.

In view of the good margins for the current year, the research department's EPS estimates for 2023 have been raised by 4.9%, but those for 2024 have been lowered by 1.7% to take account of stable yacht sales next year.

The forthcoming publications will provide us with greater visibility on business trends in 2024, and enable us to refine our scenario. Even assuming virtually no growth in 2024, valuation multiples remain very modest", he believes.

Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.