Schoeller Bleckmann : La marge d’EBITDA record de 31.4% de 2012 devrait être dépassée dès 2020
>Opinion Achat inchangée, objectif de cours 125 € - Nous étions en roadshow avec l’IR de Schoeller Bleckmann en début de semaine, soit quelques jours après un trading statement 2018 qui était légèrement au-dessus des attentes. Notre léger ajustement à la baisse de BPA 2019/2020e vient d’une prise en compte d’un alourdissement du BFR lié au phénomène de restockage, cet ajustement est sans impact sur nos attentes d’EBITDA. Notre objectif de cours reste inchangé à 125 € ...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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