Tecnicas Reunidas : Focus on efficient execution of contracts currently in the backlog
>Outperform target price € 10: contract execution now the priority - We are sticking with our Outperform recommendation on the stock with a target price of € 10. Post publication and conference call, we have only marginally adjusted our earnings estimates. The company is now in good shape and can now focus on executing the contracts in its backlog. The pipeline of commercial opportunities remains very well-stocked and the difficulties of one of the main competitors co...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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