Vallourec: recovery continues thanks to broker comments

(CercleFinance.com) - Vallourec sharese continued to recover in Paris on Monday, thanks to Kepler Cheuvreux upgrading the stock, which believes that it is now possible to "speculate" on it.


At 2.10pm, the energy tube maker's shares were up over 7%, leading the SBF 120 index (-0.2%), after a rebound of almost 10% that began last Friday.

The stock has now wiped out all the losses that were caused by its latest results publication.

In comments published in the morning, Kepler Cheuvreux tried to put into perspective the 14% plunge that followed the presentation of the quarterly accounts on Thursday.

At its current price level, the broker says that risks seem limited and it believes that investors can be "speculative" by going long on the stock.


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