Invest Securities has reaffirmed its 'buy' recommendation on Plastic Omnium and raised its target price from 17.2 to 24.3 euros, on the heels of a publication for 2022 that 'marks a clear change in tone, with a more confident message for 2023 and 2024'.

"The Group's positioning in new, high-growth businesses has led us to raise our sales growth estimates", says the analyst, whose forecast NBI for 2023-24 is raised by +7.7%/+13.6%.

Invest Securities also highlights a dividend raised to 0.39 euro per share, i.e. a payout ratio supported by free cash flow, now guided over the medium term at 30/35% versus 25% previously.

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