RENK : Neutral vs Outperform – a strained valuation for a slightly weaker growth profile than at some peers
>Strong visibility and momentum in order intake - RENK already has strong visibility with an order book (including frame and soft) offering the equivalent of 5 years of sales, but we think that the momentum is unlikely to waver in the coming months with the expectation of a book-to-bill above 1.4x in FY 2024, driven sharply by VMS. Many tender bids are underway in defence, notably for Italy (A2CS programme for infantry vehicles and tank purchases), the Czech Republic ...
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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