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Technip Energies : CMD: building a sustainable model for FCF generation
>Outperform recommendation, TP lifted to € 29 - We reiterate our Outperform recommendation and are lifting our TP to € 29 (peer comparison), given a net cash (excl. client downpayments) position ahead of our expectations (~€ 1.2bn vs ~€ 0.9m estimated previously). The targets communicated at the CMD are very credible, but a possible diversification into adjacent businesses could prompt greater caution amongst some investors. We highlight Technip Energies given: 1...
Underlying
Technip Energies NV
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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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