AMG : Lower metal prices impact estimates, 2024 EBITDA guidance at risk
>Neutral maintained, price target to €22 per share - We are retaining our Neutral rating but lower our estimates at the 2024 and 2025 EBITDA level by 13% and 19% respectively as prices of lithium have fallen considerably since AMG reported Q3 2023 results. Due to that lower price environment, which also applies to vanadium (albeit to a lesser extent) we also lower our DCF based price target to €22 per share (was €23.50).2024 EBITDA guidance of at least $2...AMG Advanced Metaurgical Group NV is a holding company. Through its subsidiaries Co. creates and applies metallurgical solutions to the global trend of sustainable development of natural resources and CO2 reduction. Co. operates in three business segments: the Advanced Materials segment is engaged in the production of specialty metals and alloys; the Engineering Systems segement consists of proprietary technologies for the design and engineering of vacuum furnaces and related equipment used in the production and treatment of metals and alloys; and the Graphit Kropfmuhl's segment extracts, processes and refines natural crystalline graphite
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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