Stifel reaffirms its 'buy' recommendation and its price target of 350 euros on ID Logistics, anticipating a return to growth momentum for the contract logistics specialist in France from 2024 onwards.

The broker thus believes that ID Logistics should gradually return to its historical organic growth trend of around 10% per annum, benefiting above all from its investments in Italy, Poland and the USA.

In Stifel's view, this 'very well managed' group rightly has the highest valuation multiples in its sector, but from a historical perspective, they still seem reasonable and leave room for share appreciation.

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