Oddo BHF has reaffirmed its 'outperform' rating and 88 euro price target on Groupe Crit, following the company's solid first-half results, which support the research firm's estimates for net income attributable to equity holders of the parent.

The analyst also considers that 'valuation remains as modest as ever', with a 35% discount to historical ratios. The discount to comparables is over 60%, compared with an average historical discount of less than 40%", he points out.

Despite being smaller than the sector's leaders, Crit's positioning in France and its international expansion do not justify such a discount, especially as its financial structure is particularly solid", adds Oddo BHF.

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