Report
Ebusco - With some help of their friends
New production approach after setbacks in rampupAfter disappointing results in H1-23, Ebusco announced a new production approach involving assembly partners in China and Portugal. We believe this new setup makes good use of the experience and procurement power of the partners. However, there are still risks involved in the production ramp-up and contract wins also require an acceleration. Target price cut to EUR 6.70, HoldBased on DCF and scenario analysis, we set a target price of EUR 6.70 (from EUR 16 Under Review), which implies 43% upside. This is only modestly above the upside of our Benelux universe and therefore we
Underlying
EBUSCO HLDG NV
Provider
Degroof Petercam
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Luuk Van Beek
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