Vallourec: Oddo BHF confirms 'buy' rating

(CercleFinance.com) - Oddo BHF has reaffirmed its "outperform" rating and target price of 21 euros for Vallourec, following a CMD (investor day), "the first in almost 10 years, which provided numerous figures never before communicated".


"The message of transparency (and a return to control of the Group), which has been underway since the arrival of the new CEO and CFO, is continuing, which should eventually enable new investors to return to the stock", believes the analyst.

"The priority given to optimizing cash generation following the financial restructuring is bearing fruit, and the new industrial set-up is set to accelerate sharply", he continues.

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