Iberpapel : Upgrading to Outperform after strong H1 results and confident outlook
>Recommendation upgrade on stronger results and favourable outlook - We are increasing our recommendation on Iberpapel to Outperform (from Neutral) and our target price to € 23.3 (+9% from previous € 21.4) following better-than-expected H1 2021 results (EBITDA +10%) and favourable prospects for H2 2021. We are raising our EBITDA estimates for 2021 by +28% and by +22% for 2022 largely on higher volumes (+9% and +6% respectively) and higher average prices (+4% and +5% r...Iberpapel Gestion is engaged in the manufacture, wholesale distribution, sale and export of pulp and printing and writing paper. In addition, Co. maintains forestry activities, including the cultivation of timberlands.
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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