Report
Tenaris : Low point expected in Q4 2024
>Underperform recommendation, target price adjusted to € 14.3 (vs € 14 previously) - Following the results publication and the conference call, we have revised up our EPS estimates by 6% on average over 2024-2026, largely following the announcement of a $ 700m share buyback programme (~3.9% of the market capitalisation). We reiterate our Underperform recommendation on the stock and adjust our target price to € 14.3(vs € 14 previously). The stock is trading at 4.7x it...
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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