Tecnicas Reunidas : La cure de jouvence du backlog est déjà perceptible sur les marges
>Véhicule privilégié pour jouer le rebond des marges en onshore - Nous maintenons notre recommandation Achat (OC 27 € vs 29 €) sur le titre :La remontée des marges est une nouvelle fois confirmée avec en ligne de mire un objectif d’au moins 3% qui semble de plus en plus réaliste sous l’effet notamment du renouvellement du backlog. Nous avons ajusté notre séquence d’EBIT de -7% en moyenne et nos attentes de BPA marginalement compte tenu d’une trésorerie nett...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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