Lumibird soars after in-line sales, Portzamparc upgrade

Lumibird SA

30/01/2024 09:27

** Shares in Lumibird  LBIRD.PA  jump 9.4% to 11.42 euros
per share as Portzamparc upgrades the French laser company to
"buy" from "accumulate" on valuation and margin outlook after
in-line FY sales
    ** Portzamparc says the company's FY sales of 203.6 million
euros ($220.2 million), reported on Monday, were in line with
expectations, and flags FY EBITDA margin target of over 17%
    ** "While the risk of disappointment seems more limited to
us, the sharp drop in the stock since warning (-20%) offers an
interesting entry point," says the brokerage
    ** Lumibird says it "anticipates more profitable growth in
the years ahead, as it reaps the rewards of its investments"
    ** Portzamparc trims PT by 0.7% to 14.2 euros
    ** The shares head for their best day in over a year
($1 = 0.9245 euros)

 (Reporting by Olivier Sorgho)
 ((Olivier.Sorgho@thomsonreuters.com))