QUADIENT : price target raised by Oddo BHF
According to the analyst, it revealed a potential for value creation based on growth of at least 10% per annum in the digital and locker activities, and a clear turnaround in their profitability to reach EBITDA margins close to those of the historical business.
Oddo BHF expects EBIT to reach a TMVA of +7.2% in 2023-30, i.e. a recurring operating margin improving by almost 500 basis points, with digital and lockers contributing almost 50% of recurring EBIT, compared with a negative contribution at present.
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