Vallourec: BofA still buying after results

(CercleFinance.com) - Bank of America Global Research reiterates its 'buy' recommendation on Vallourec shazres, along with its E20 target price, forecasting a stronger year-end with updated estimates for Q4 2024.


We see upside potential for the EBITDA consensus of 5% for Q4 2024 and 2% for FY 2025, with strong FCF indicating initial cash returns, the broker believes.

BofA says that Vallourec's share price can recover its recent underperformance against its peer Tenaris in the near term, before further outperforming next year on the declaration of its first dividend in over 10 years, a major milestone.


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.