Manitou: further rise, Portzamparc's favorite stock
In a note published yesterday, Portzamparc - which has a "strengthen" recommendation and a target price of 29 euros - said it still considered the Group's outlook to be cautious.
The research firm points out that all production in North America (which represents 21% of sales) is tending to run out, and notes that business in Southern Europe (34% of sales, including France) is holding up better than expected.
He also points out that the stock is currently trading on the basis of an Enterprise Value/Ebitda ratio of 5.5x, compared with a five-year average of 9.4x.
He also points out that the PER is 9.2x, compared with a historical average of 12.2x.
His price target shows a potential upside of 22%.
Around 3:00 pm, Manitou advanced by 0.6%, bringing its total gains since the start of the week to over 17%.
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