Vallourec: UBS changes to 'sell'
(CercleFinance.com) - UBS downgrades its recommendation on Vallourec from 'neutral' to 'sell' with a target price brought down from 2.
40 to 1.90 euros, which represents a downside potential of 31% for the share of the French seamless tubes manufacturer.
In its research note, the financial intermediary cites a “bleak outlook for US onshore capex in the 2H and highly levered balance sheet”.
Copyright (c) 2019 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.
40 to 1.90 euros, which represents a downside potential of 31% for the share of the French seamless tubes manufacturer.
In its research note, the financial intermediary cites a “bleak outlook for US onshore capex in the 2H and highly levered balance sheet”.
Copyright (c) 2019 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.