Royal BAM Group : Upping estimates, TP to €5.90, Outperform reiterated
>Dutch Resi bottoming out plus solid H1 2024 results drives upgrade - Despite some material setbacks in the UK and to a lesser extent in Netherlands, BAM’s performance in H1 2024 was well better than expected, both in sales and adj. EBITDA. The order book also increased by 12%. Given that the Dutch housing market seems to have pas the trough and that the energy and civil engineering markets remain more than robust in the UK, Ireland and the Netherlands, we are upping ...Koninklijke Bam is a construction group based in the Netherlands. Co. is active in the sectors construction, property, civil engineering, public private partnerships, mechanical and electrical contracting, consultancy and engineering, and facilities management. Co. maintais market positions in the Netherlands, Belgium, the United Kingdom, Ireland and Germany. Co. undertakes specialist construction and civil engineering projects in niche markets worldwide. Co.'s consultancy and engineering company provides services to global clients with their international operations.
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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