AMG : TP to €47 due to higher lithium spodumene prices
>Upping 2021-2023 EBITDA by 2%, 32% and 22% - We are updating our model for the key metals while also twisting and tweaking other parts of the model. The result is that we very marginally up our 2021 sales and EBITDA estimate (EBITDA now at $128m vs $126m previously, in line with BB consensus), reflecting higher 4Q21 graphite, chrome, antimony and silicon prices, offset by a lower ferrovanadium price. The effect of the substantially higher lithium spodumene price is...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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