Vallourec: Oddo a buyer; adjusts target price
(CercleFinance.com) - Today Oddo has confirmed its buy rating on the Vallourec share and has adjusted its target price to 8 euros (against 8.
5 euros previously).
Following an Analysts' meeting, the broker noted that management was cautiously optimistic, confirming a sequential improvement in the group's performance. The recovery story is ongoing and the share should still be considered as a medium-term investment, with a positive FCF generation from 2020, the broker said.
As a reminder, Vallourec posted Q1 2018 revenue of 862 million euros, up 10.1% y-o-y. Like-for-like, sales were up 22.1%.
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.
5 euros previously).
Following an Analysts' meeting, the broker noted that management was cautiously optimistic, confirming a sequential improvement in the group's performance. The recovery story is ongoing and the share should still be considered as a medium-term investment, with a positive FCF generation from 2020, the broker said.
As a reminder, Vallourec posted Q1 2018 revenue of 862 million euros, up 10.1% y-o-y. Like-for-like, sales were up 22.1%.
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.