Befesa : Reassuring tone that confirms our current expectations for the stock
>Outperform rating and target price of € 42 confirmed - The digital road show that we organised yesterday with Rafael Perez, Befesa’s CFO, is reassuring and confirms our current expectations for the full year. We think that if zinc prices remain this high (at an average of ~$ 2,800/tonne in Q2), this will offer additional upside to our estimates (and the consensus) for EBITDA of around € 10m (+5%). In terms of multiples, the group is trading at 7.6x EV/EBITDA 2025 wh...Befesa is a services company principally engaged in the collection and recycling of steel dust and aluminum residues and other related industrial services and logistics. Co. also offers industrial recycling services to hazardous waste markets. Co. organizes its activities into three business segments: steel dust recycling services, salt slags recycling services and secondary aluminum production.
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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