Oddo BHF has reaffirmed its 'outperform' rating on IDI, 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 firm welcomes the sale of the stake in Flex Composite Group to Michelin, an operation 'perfectly in line with the IDI group's strategy' and which 'confirms the excellent portfolio rotation dynamic expected for 2023'.

In his opinion, IDI could carry out further disposals of its historical holdings, notably CFDP Assurances, Ateliers de France and Royalement vôtre éditions, over the coming quarters, should the right opportunities arise.

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