Oddo BHF - Tecnicas Reunidas SA (TRE) Tecnicas Reunidas : Le Moyen-Orient nâ€™est pas un mirage

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Oddo BHF

Baptiste Lebacq

Tecnicas Reunidas : Le Moyen-Orient nâ€™est pas un mirage

>Recommandation Achat, OC ajustÃ© Ã 20 â‚¬ (vs 23 â‚¬) - Nous maintenons notre recommandation Achat sur le titre avec un objectif de cours de 20 â‚¬ (vs 23 â‚¬, obtenu par moyenne des comparables, VE/EBIT et P/BV). A la suite de cette publication et de la confÃ©rence tÃ©lÃ©phonique, nous avons ajustÃ© Ã la baisse notre sÃ©quence dâ€™EBIT 2020/22 de 13% afin dâ€™intÃ©grer les coÃ»ts liÃ©s au COVID-19 (impact de 25 bp sur nos attentes de marge dâ€™EBIT dÃ©sormais Ã 2.75%). Afin de rester ...

26/05/2020 4 FR

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.

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ES0178165017 Madrid Stock Exchange Spain

Provider

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.

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Analysts

Baptiste Lebacq

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Tecnicas Reunidas : Le Moyen-Orient nâ€™est pas un mirage

ODDO : What if the water deficit undermined energy security?

ODDO : Et si le déficit en eau mettait à mal l’Energy Security ?

ODDO : Shareholder returns gearing up

Carrefour : Decent Q1 sales, price adjustment policy in France funded by cost-cutting. Target price of € 17.5 vs € 18.0

Sanofi : Q1 2024 passes without a hitch

Pernod Ricard : Q3 2023/24 sales: still no return to growth

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