Jefferies initiates Robertet with 'buy' on 'attractive' growth outlook

Robertet SA

29/08/2024 10:51

** Jefferies initiates Robertet  ROBF.PA  with "buy" saying
the french holding company growth outlook is attractive compared
with its peers
    ** "Robertet's  competitive  advantages include
differentiated  raw  materials  access,  customer  focus  and 
long-term perspective  as  a  family-owned  business", Jefferies
analysts says in a note
    ** The broker sees the revenue target of 1 billion euros 
($1.11 billion) by  2030,  implying  a  4.8%  CAGR  to  2030 as
ambitious but achievable
    ** It adds that even with question over duration on the
fragrance cycle strength, customer launch plans suggest at least
a 2-years runway supporting mid-to-high single digit industry
growth
    ** Jefferies set target price at 1,040 euros
    ** Shares in Robertet rises 2.83% at 09:50 GMT
    
    


($1 = 0.9014 euros)

 (Reporting by Mathias de Rozario)
 ((mathias.derozario@thomsonreuters.com))