Oddo BHF has reaffirmed its 'outperform' opinion and its price target of 350 euros on ID Logistics, highlighting 'improving momentum and good visibility for 2024' for the contract logistics group.

The research firm points to more favorable base effects in France, accelerating international growth, commercial synergies in full play thanks to recent acquisitions, and significant M&A opportunities.

The recent fall in the share price seems to us to offer a good opportunity, with valuation levels well below historical averages (EV/EBITDA 2024 excluding IFRS16 less than eight times versus 12 times historically)", adds the analyst.

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