Aperam : Recovery taking longer than expected, target price adjusted to € 30
>Q4 set to be lacklustre but in line with expectations - We updated with the company following Q4. It ended what was a tough year for Aperam, as for the rest of the sector, characterised by low volumes and prices amid worsening macroeconomic trends and commodities prices. Following Q3, Aperam had issued relatively detailed guidance for Q4 EBITDA of between € 50m and € 60m. The group, while it should meet this guidance, is likely to be at the lower end of the range, gi...APERAM is a stainless and specialty steel producer. Co. produces a range of stainless steel products and products including electrical steel (grain oriented, non-grain oriented, and non-grain oriented semi-processed steel), nickel alloys and specialties. Co. sells its products to customers on three continents in over 40 countries, including aerospace, automotive, catering, construction, household appliances and electrical engineering, industrial processes, medical, and oil & gas industries. Co. manages its business according to three operating segments: Stainless and Electrical Steel; Services and Solutions; and Alloys and Specialties.
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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