Report
Tenaris : A tougher end to the year than imagined
>Underperform rating, target price adjusted to € 14 - Following the publication and conference call (for more details on earnings, see our first take of 1 August 2024), we are lowering our 2024 EBITDA estimates by 10% (beyond this, they are unchanged) in order to integrate a volume contraction in H2 2024 and an EBITDA margin at the lower end of the range (20-25%). Since the start of the year, we have lowered our EBITDA forecasts for the current year by close to ...
Underlying
TENARIS S.A.
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.
Baptiste Lebacq
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