Report
Baptiste Lebacq

Vallourec : 2023 a year of transformation when the caterpillar becomes a butterfly

>Outperform rating, target price of € 21 - Following the publication of Q1 2023 results (cf. equity flash of 17 May 2023 for more details) and conference call, we are leaving our EBITDA forecasts unchanged (we were already 5% > the pre-publication consensus) as well as our Outperform rating and target price of € 21. The adjustment to our 2023 EPS forecast stems exclusively from a slightly lower tax charge than initially expected. It is worth underlining a conver...
Underlying
Vallourec SA

Vallourec SA is a France-based company, which specializes in the production of seamless and welded steel tube products for industrial applications. It operates through two segments: Seamless Tubes and Specialty Products. For the oil and gas industry, it designs and develops a comprehensive range of products including seamless tubes and connections for drilling operations, line pipes and well equipment. For the power generation market, it offers tubes that withstand severe temperature and pressure conditions. Its solutions enable power companies to meet the challenges of energy efficiency and reduce CO2 emissions in power plants. It also offers a wide range of tubes for petrochemical installations (refineries), for mechanical engineering applications (hydraulic cylinders and machine tools), for the automotive industry, for construction (stadiums, other complex buildings and structures) and for various other industrial sectors. It operates through Vallourec Solucoes Tubulares do Brasil.

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

ResearchPool Subscriptions

Get the most out of your insights

Get in touch