Oddo BHF maintains its 'outperform' rating on Nexans shares, with its price target raised from 115 to 122 euros.

The analyst reports that one of Nexans' challenges is to secure supplies of raw materials, including copper, for which there is insufficient supply vs. steadily rising demand.

Oddo BHF also reports that the proportion of recycled copper used within the group is 5.4%, but that the objective is to reach 30% recycled copper by 2030 (target of 6% in 2025), via new partnerships in particular.

For 2024, the analyst indicates a mid-range EBITDA target of 702 ME, i.e. a margin of 10.6% (vs. 10.2% YoY, previous roadmap of 10/12%).

We are also fairly confident about the expected performance for H1 2024, with EBITDA expected to grow vs. 354 ME for the reference half-year", concludes the broker.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as decision-making aids 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.