Derichebourg: Invest Securities sees good entry point
(CercleFinance.com) - Invest Securities maintains its “buy” rating on Derichebourg, with an adjusted target price of 8 euros (vs.
8.4 euros previously), considering that the market's "over-reaction" at the group's last trading update represents a good entry point.
Analysts note that H1 2017/2018 sales rose by 8.8%. However, they point out that this growth slowed in Q2 (+9.5% in Q1), while its EBITDA margin fell by 0.5 point.
Metal prices seem to be stabilising and this publication underpins our 2017/2018 sales forecasts, although leads us to slightly review our EBITDA margin estimates for the Environmental Services division, said the analyst who monitors the share.
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.
8.4 euros previously), considering that the market's "over-reaction" at the group's last trading update represents a good entry point.
Analysts note that H1 2017/2018 sales rose by 8.8%. However, they point out that this growth slowed in Q2 (+9.5% in Q1), while its EBITDA margin fell by 0.5 point.
Metal prices seem to be stabilising and this publication underpins our 2017/2018 sales forecasts, although leads us to slightly review our EBITDA margin estimates for the Environmental Services division, said the analyst who monitors the share.
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.