Report
Baptiste Lebacq

Tecnicas Reunidas : Redressement qui se confirme

>Recommandation Surperformance et OC 17 € maintenus - Post publication et conférence call, nous ajustons nos attentes de BPA en baisse sur 2024 compte tenu d’un taux d’IS plus élevé qu’escompté (désormais à 35% pour l’exercice après 38% sur le S1 24 vs 28 % attendus pour l’année avant). En revanche, notre séquence d’EBIT 2024/26 reste inchangée. Nous réitérons notre recommandation Surperformance avec un OC de 17 €. Le groupe affiche une décote de 50% versus ses p...
Underlying
Tecnicas Reunidas SA

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.

Provider
Oddo BHF
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.

Analysts
Baptiste Lebacq

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