Aperam: stock boosted by positive broker comments
(CercleFinance.com) - The Aperam share is up in Paris on Wednesday, benefiting from Morgan Stanley's comments, with the broker increasing its target price for the share.
In mid-afternoon trading, the stainless steel, electrical steel and special steels specialist's shares were up just over 3%, while the market was up about 1%.
In its comments on the European steel sector, Morgan Stanley - which has an "equal weight" recommendation on Aperam shares - said that it has raised its target price for them from 64 euros to 67 euros.
The bank believes that the Luxembourg-based group has one of the sharpest business models in the sector, although says it sees other opportunities within the sector as demand and margins recover.
As such, it prefers the group's peers Acerinox and Outokumpu.
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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.
In mid-afternoon trading, the stainless steel, electrical steel and special steels specialist's shares were up just over 3%, while the market was up about 1%.
In its comments on the European steel sector, Morgan Stanley - which has an "equal weight" recommendation on Aperam shares - said that it has raised its target price for them from 64 euros to 67 euros.
The bank believes that the Luxembourg-based group has one of the sharpest business models in the sector, although says it sees other opportunities within the sector as demand and margins recover.
As such, it prefers the group's peers Acerinox and Outokumpu.
Copyright (c) 2021 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.