Oddo BHF maintains its 'outperform' opinion on Verallia for the medium term, but lowers its target price from 45 to 42 euros, following the reduction of its estimates in the wake of the downward revision of the group's annual targets.

Realizing, after company contact, that it will be difficult to catch up in the second half of the year, the research firm lowered its own EBITDA estimate for 2024 by 13% to 870 million euros, which would imply a 21.5% reduction.

Despite this disappointment, and after revising our estimates downwards, the valuation remains modest and does not correspond to a normative year", says the analyst, for whom the glass packaging manufacturer's fundamentals are not called into question.

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