Tecnicas Reunidas : 4% target
>Neutral rating maintained - target price of € 9 (vs € 10 previously) - Following the release and the conference call, we revised down our 2024-2026 EPS sequence by an average of 10%. We adjust our target price to € 9 and reiterate our Neutral rating on the share. There are still many more attractive stocks in the sector with leading positions in key markets and with greater upside (upside for E&C companies: 35%). Financially, Tecnicas Reunidas is in good shape and h...Tecnicas Reunidas is a general contractor company based in Spain. Co. engages in the engineering, design, and construction of industrial facilities for refining and petrochemical, oil and gas, power, and infrastructure and industries sectors worldwide. Co. constructs nuclear plants, conventional thermal plants, and renewable energy and cogeneration facilities for power sector; refineries and facilities for petrochemicals; water treatment, desalination, waste management, air, land, and marine transport facilities; and liquefaction, and storage facilities, as well as oil and gas fields and pipelines. Co. also provides engineering, management and operating services for industrial plants.
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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