Stifel has reaffirmed its 'buy' recommendation on Mersen and raised its target price from €50 to €54, citing the company's 'impressive' 2022 results and solid targets for 2023.

According to the broker, last week's results demonstrated once again that the industrial group specializing in graphite 'benefits from strong underlying momentum linked to the energy transition'.

Stifel now expects organic growth of 8% a year over the period 2021-27. It believes that 'the new growth plan and new leadership in SiC will give the Group a new dimension that would justify new multiples'.

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.