(News Bulletin 247) – Oddo BHF maintains its outperformance rating on Vallourec shares, with an unchanged price target of 21 euros.
As part of its financial communication for Q1 2023, Vallourec anticipated EBITDA for Q2 2023 similar to that generated in Q1 2023 (i.e. €320 million) and overall cash generation in Q2 2023 close to balance.
‘Vallourec now anticipates for Q2 2023 an EBITDA of around 370 ME and an overall cash generation of around 110 ME’, reports the analyst.
In addition, Vallourec is now counting on an EBITDA of between 950 ME and 1.1 MdE for the 2023 financial year.
“We underline a convergence of interests between the reference shareholder (Apollo), the management, the bankers (holders of BSA) and the minority shareholders, namely the rise in the title”, notes the broker who specifies that the title is in the list of European Midcap recommended stocks for H2 2023.
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