Oddo BHF has reaffirmed its 'outperform' rating on Plastic Omnium and raised its target price from €21 to €24, on the heels of a publication which, in its view, 'confirmed the very good start to the year' for the automotive equipment supplier.

The research firm believes that the continuing improvement in the environment and efforts on the operational front should benefit the company and lead to a continuation in the second half of the sequential growth seen since last year.

Plastic Omnium still seems to us to be one of the best positioned equipment manufacturers this year and beyond, with a very clear and well-executed strategic direction, all the more so given a valuation that we still consider attractive", he adds.

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