Pfeiffer Vacuum AG : Good resilience priced in
>Neutral recommendation, target price raised to € 120 vs € 110 - Following the publication of Q1 2020 results, we reiterate our Neutral recommendation. We have raised our forecasts by an average of 4% and our DCF-based target price to € 120 vs € 110 (revisions to estimates and decrease in the risk premium). Pfeiffer Vacuum has not escaped the COVID-19 impact, due to its exposure to industrial markets and China. However, despite the temporarily negative impact of the c...Pfeiffer Vacuum provides vacuum technology solutions. Co.'s products are divided into the areas of vacuum generation, vacuum measurement and analysis, installation elements, vacuum chambers and vacuum systems. It includes a range of hybrid and magnetically levitated turbopumps, oil-lubricated and drycompressing low and medium vacuum pumps, leak detectors, mass spectrometers and gauge heads. Co. manufactures vacuum chambers in cubical, cylindrical and bell-shaped designs. Co. also develops and manufactures vacuum systems for customer specific processes, such as testing components for the automotive and electronics industries, testing pressure vessels or packaging in the food industry.
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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