IDI gained nearly 2% in Paris this morning, as Oddo BHF reaffirmed its 'outperform' rating on the stock and raised its target price from €70 to €75, due to a reduction in the discount to NAV (to 25% from 30%) applied in its valuation model.

The research department welcomes the sale of the stake in Flex Composite Group to Michelin, a transaction which is "perfectly in line with the IDI Group's strategy" and which "confirms the dynamic portfolio turnover expected for 2023".

According to the research department, IDI may carry out further disposals of its historical holdings over the next few quarters, notably CFDP Assurances, Ateliers de France and Royalement vôtre éditions, if attractive opportunities arise.

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