Oddo BHF reaffirms its 'outperform' rating on Arkema, while lowering its target price from €110 to €105, as information has prompted it to be more cautious in its earnings forecasts (-7% on average for EBITDA 2023 and 2024).

The negative trend reversal in the third quarter continued in the fourth, with the group facing massive destocking in the construction sector (25% of sales)", reports the analyst in charge of the file.

The research department nevertheless remains confident in the chemical group's ability to rebound strongly in the next favorable macroeconomic cycle, motivating it to "remain positive on the value".

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