Report
Gregory Ramirez

MATERIALISE: Recovery is confirmed, driven by the Manufacturing division | BUY | USD36 VS. USD38 (+43%)

MATERIALISE - BUY | USD36 VS. USD38 (+43%)
Recovery is confirmed, driven by the Manufacturing division

We reiterate our Buy rating and adjust our TP to USD36 from USD38
Medical and Manufacturing divisions performed way above expectations
FY21 guidance is above our forecasts on adj. EBITDA margin
Underlying
Materialise ADS

Provider
Bryan Garnier
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.

Analysts
Gregory Ramirez

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