Vallourec : We had said see you in 10 years (for the dividend)
>Outperform and target price of € 21.7 - Following the results publication and the conference call, we reiterate our Outperform recommendation on the stock (target price € 21.7). We have lowered our 2024-2026e EBITDA forecasts (-3% on average). Vallourec, despite a YTD performance close to 16%, is still showing a discount of 30% (in terms of 2025e EV/EBITDA) vs its main peer Tenaris. Vallourec is reducing its debt more quickly than expected (8 consecutive quarters of...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.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.