PVA Tepla : Feedback from the CEO roadshow
>Following a CEO roadshow, we are raising our target price to € 15 from € 14 but maintaining our cautious vision - We organised a virtual roadshow with PVA Tepla, represented by Manfred Bender (CEO) and Gert Fishan (Head of IR). Management maintained a reassuring tone about the rest of 2022, saying it sees no slowdown in demand at key clients. We are edging up our forecasts for 2022 (+1.2%) and our target price to € 15 vs € 14. Even so, we are maintaining our Underp...PVA Tepla AG. PVA TePla AG is a Germany-based company that provides vacuum solutions for high temperature and plasma treatment processes, as well as plant engineering solutions. The Company operates through two segments: Industrial Systems and Semiconductor Systems. The Industrials Systems segment specializes in the development, construction and marketing of vacuum heat treatment furnaces for processing materials at high temperatures. The Semiconductor Systems segment provides systems for the semiconductor and solar industry ranging from systems for the production of silicon crystals for the semiconductor, solar and opto-electronic industry to systems for plasma treatment in the semiconductor assembly, as well as systems for non-destructive, ultrasonic quality inspection of materials. The Company operates through subsidiaries in Europe, Asia and North America.
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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