Bryan Garnier - Materialise ADS (MTLS) MATERIALISE: An ETF story | BUY | USD20 vs. USD17

Report

Bryan Garnier

Gregory Ramirez

MATERIALISE: An ETF story | BUY | USD20 vs. USD17

MATERIALISE - BUY | USD20 vs. USD17 (+14%)
An ETF story

Share price surge was due to ETF funds
3D printing and additive manufacturing are a long-tailed wave
Fundamentals remain unchanged
We raise our DCF-derived fair value to USD20 from USD17

21/01/2019 3 EN

Underlying

Materialise ADS

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US57667T1007 NASDAQ Stock Market Belgium

Provider

Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

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Analysts

Gregory Ramirez

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MATERIALISE: An ETF story | BUY | USD20 vs. USD17

Materialise Medical segment continues to lead the way

Morning Notes : COFB BB, CRBN NA, OPTI BB, GLPG NA, IVA FP, MTLS US, QFG BB, SOF BB, UMI BB, WDP BB, XIOR BB, IMCD NA

Materialise Growth will not (yet) materialise in 2025

Fielmann: margin potential unleashed

Fielmann: strong margin delivery in Q1 2025

Lhyfe: EUR53m debt financing

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