Oddo BHF maintains its 'outperform' rating on Technip Energies shares, with a target price raised from €35 to €40
Following a roadshow with the CFO, Oddo BHF says that it is convinced that the group has a solid pipeline and that selectivity is a key criterion for limiting execution risks.

The analyst believes that in the medium term (and from a dynamic perspective), with orders of around €10bn p.a., the group could post annual revenue of €10bn and, by extension, EBITDA of around €970m.

Using a multiple of 8.7x (reported by KBR and Fluor), the share price could reach nearly €55, according to the broker.

Finally, Oddo BHF reports that through its company Reju, Technip Energies plans to position itself in the regeneration of plastic fibers contained in textiles, given that less than 1% of polyethylene terephthalate textile waste is currently recycled.

Technip Energies already has a pilot unit in Germany, but the ecosystem still needs to be built.


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