Jacquet Metal: benefits from upbeat analyst comments.

(CercleFinance.com) - The Jacquet Metal stock is up 1.
3%, benefiting from positive comments from analysts at Société Générale (SG). As such, they have confirmed their buy rating on the stock, with the steel distributor set to unveil its FY results tomorrow.

"We expect Q4 16 results to confirm the earnings recovery that began last year," say SG analysts, who have set a 12-month target price at 22 euros, which is close to the current share price.

According to SG, Jacquet Metal is expected to report 2016 sales of 1.65 billion euros (+19.8%) tomorrow.

The group's profitability is expected to take off, as has its EBITDA, which is expected to rise by 45% to 55 million euros.

For the time being, S+B's contribution to Jacquet Metal's results is virtually zero, although this subsidiary "represents one of the group's key earnings growth drivers," says SG.

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