VAT Group AG : La reprise a bien débuté mais pourrait être plus lente qu’attendu
>Maintien de notre opinion Neutre, BPA révisés en baisse de 10% sur 2023/24 - Malgré des prises de commandes et une guidance T4 inférieures aux attentes, le titre a progressé de 4% hier suite à la confirmation du dépassement du point bas et du début de la phase de reprise (hausse des commandes en séquentiel de 5%). Nous pensons néanmoins que cette reprise est davantage liée à moins d’annulation de commandes et à une normalisation des stocks de valves, qu’à une véritab...VAT Group AG is a Switzerland-based company engaged in the manufacture of industrial valves. The Company focuses on designing and producing vacuum valves for semiconductor, display and solar panel manufacturing, as well as for a range of industry and research applications. Its activities are divided into three business areas: Valves, Global Services and Industry. The Valves division provides isolation, control and transfer valves used in vacuum-based manufacturing processes. The Global Services area offers advisory and after sales services, such as trainings, equipment repair and overhaul, valve upgrade and spare parts sale. The Industry segment manufactures and markets welded bellows, machine parts, mechanical components and assemblies. The Company operates worldwide.
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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