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AUTO1 : A good start to the year, giving credibility to 2023 guidance
>Target price raised to € 7 (vs € 6) but Underperform opinion maintained - The stock rallied by 11% yesterday following Q1 results above forecasts. In view of better-than-expected volume trends and stabilising price momentum, we are raising our forecasts for 2023 (sales -7% vs -12% previously). In the wake of gross profit and EBITDA above our forecasts, we are also raising our forecasts slightly above the middle of the guidance range for gross profit (€ 530m vs € 500...
Underlying
AUTO1 Group
Provider
Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Martin Marandon-Carlhian
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