Bekaert : No reason to become optimistic – Neutral maintained
>Neutral maintained, despite share price decline - The Bekaert share price has declined from close to €50 in May of this year to c. €35 yesterday, significantly underperforming peers. This is the result of company specific setbacks in BBRG (a botched reorganisation in the European and North American unit) and Specialty (delays in hydrogen, combustion impacted by legislation) and headwind in RR (low profitability China, depressed EU markets). This resulted in a downgra...Bekaert is a global technological and market company engaged in advanced solutions based in steel wire transformation and coatings as well as an independent manufacturer of drawn steel wire products. In addition, Co. teams up with customers and suppliers globally to develop, implement, upgrade, and protect both current and future technologies. Co.'s business activities are put in practice along two main axes: Product Innovation and Process Innovation. Product Innovation helps Co. better serve its customers, while Process innovation enables Co. to increase operational effectiveness, minimizing its impact on the environment.
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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