Shares in investment firm IDI have gained nearly 14% on the Paris Bourse since Monday morning, following the sale of FCG, a manufacturer of advanced composite materials, to the Michelin Group.

On Tuesday, analysts at Oddo BHF had reaffirmed their 'outperform' rating on the stock, with a price target raised from €70 to €75, due to a reduction in the discount to NAV (to 25% from 30%) applied in their valuation model.

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

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