Schoeller Bleckmann : A reassuring Q3 publication, the anticipated downturn in the US at end-2018 should be offset by international activities
>Buy recommendation and target price € 125 maintained - We are sticking with our Buy recommendation on the stock and our target price of € 125 (based on a 2019e EBITDA multiple of 13.5x). The adjustment to our 2018 EPS forecast was prompted by financial charges and a tax rate that were higher than anticipated. The other elements at the top of the P&L are unchanged. The ramp-up of activity outside the US should help to offset the dip which we anticipate in the US marke...Schoeller-Bleckmann Oilfield Equipment is engaged as a producer of high precision components and a supplier of oilfield equipment for the oilfield service industry. Co. focuses on non-magnetic drillstring components (non-magnetic drill collars) and downhole tools for drilling and completing directional and horizontal wells. The High Precision Components segment consists of the manufacturing of MWD (Measuring While Drilling) and LWD (Logging While Drilling) precision drillstring components. The Oilfield Equipment segment comprises production and distribution of non-magnetic drill collars, drilling motors and tools for downhole circulation applications, repair and maintenance services.
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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