Belron stake is key driver for D'Ieteren - ODDO starts with 'outperform'
25/06/2026 09:00
BUZZ-Belron stake is key driver for D'Ieteren - ODDO starts with 'outperform' ** Oddo BHF initiates coverage of D'Ieteren IETB.BR with "outperform", citing the investment firm's stake in car glass repair and replacement firm Belron
** The brokerage sees the group's 50.3% Belron stake as key growth and value driver as it is preparing for an IPO
** D'Ieteren shares rise about 2%
** "In our valuation models Belron is currently valued at below 20x EV/EBIT and at 21-25x PER, which is sufficient for explaining an Outperform recommendation," it says
** Oddo sets a PT of €225 per share, implying an upside of more than 30% to the stock's current price
** Shares in D'Ieteren are up 11% YTD
(Reporting by Mathias de Rozario in Gdansk)