Report
Saipem : The recovery seems to be confirmed in a buoyant environment
>Neutral recommendation maintained and target price raised to € 2 - Post conference call (for further details on Q1 2024 results, see our First Take of 23 April 2024), we are maintaining our EBITDA guidance unchanged, with the only adjustment to EPS 2024 coming from higher-than-expected interest expense (€ 200m vs € 150m previously). We are lifting our target price to € 2 to factor in: The rise in peer group multiples seen since our last update in February ...
Underlying
SAIPEM S.P.A.
Provider
Oddo BHF
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.
Baptiste Lebacq
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