Vallourec: TP ICAP Midcap initiates coverage as buyer
(CercleFinance.com) - On Thursday TP ICAP Midcap announced that it has begun tracking Vallourec shares with a buy recommendation and a target price of E21, highlighting the rebirth of a 'phoenix'.
Drastically transformed since 2021 and boosted by buoyant markets, Vallourec is in the process of being totally deleveraged and generating substantial returns for its shareholders, the broker says.
However, the market does not yet seem to be valuing this healthy cyclical 'value' at its fair measure, it writes.
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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 information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Drastically transformed since 2021 and boosted by buoyant markets, Vallourec is in the process of being totally deleveraged and generating substantial returns for its shareholders, the broker says.
However, the market does not yet seem to be valuing this healthy cyclical 'value' at its fair measure, it writes.
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.