Vallourec: Oddo still a buyer
(CercleFinance.com) - In a note published this morning, Oddo says that it is maintaining its buy rating on the Vallourec share, also sticking to its target price of 8.
50 euros.
The recovery story has been confirmed over the past few quarters, and the group should benefit from many medium-term growth drivers with a cost structure that is 50%-based in low-cost zones. Future news is should remain positive, analysts at Oddo say.
Vallourec has published quarterly results that are below our expectations, although Q1 is traditionally affected by seasonal factors, the broker points out.
Vallourec announced Q1 2018 revenue of 862 million euros, up 10.1% y-o-y, while Oddo was expecting 890.4 million euros. Like-for-like sales growth reached 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.
50 euros.
The recovery story has been confirmed over the past few quarters, and the group should benefit from many medium-term growth drivers with a cost structure that is 50%-based in low-cost zones. Future news is should remain positive, analysts at Oddo say.
Vallourec has published quarterly results that are below our expectations, although Q1 is traditionally affected by seasonal factors, the broker points out.
Vallourec announced Q1 2018 revenue of 862 million euros, up 10.1% y-o-y, while Oddo was expecting 890.4 million euros. Like-for-like sales growth reached 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.