Oddo BHF maintains its 'outperform' recommendation on IDI, with a price target raised from 66 to 70 euros, judging that 'despite its solid intrinsic qualities, IDI continues to suffer from a significant discount on its NAV (39% vs. 25% historically)'.

With a historically cautious investment philosophy and a high-quality, well-diversified portfolio, IDI has posted steady growth in its NAV since its creation", the analyst points out.

"This fine momentum, underpinned by the performance of its holdings, testifies to the quality of its assets and its ability to support their growth. The portfolio rotation policy should remain active over 2023", he continues.

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