Vallourec: Oddo confirms targets for 2018
(CercleFinance.com) - Oddo has confirmed its buy rating on the Vallourec stock after the announcement of a renewal in its collaboration with Petrobras.
The broker believes news will be favourable in the near term, despite FX effects, with the full impact of price effects and a sequential improvement in EBITDA over the year.
The group has announced new three-year contracts with Petrobras to provide premium seamless OCTG tubes, combining premium steel grades and state-of-the-art connections, as well as specialised services.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker believes news will be favourable in the near term, despite FX effects, with the full impact of price effects and a sequential improvement in EBITDA over the year.
The group has announced new three-year contracts with Petrobras to provide premium seamless OCTG tubes, combining premium steel grades and state-of-the-art connections, as well as specialised services.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.