VAT Group AG : Le point bas est atteint, mais nous voyons plus d’upside chez d’autres équipementiers
>Nous maintenons notre opinion Neutre, malgré l’atteinte du point bas - Malgré des guidances inférieures aux attentes, le titre a rebondi de 3% hier du fait de l’évocation du point bas au T3 (dans un marché très favorable aux valeurs du secteur). Nous ajustons en baisse notre prévision de croissance du CA sur 2023 (-23% vs -18%) et de marge d’EBITDA (à 31.4% vs 32%). De ce fait, nous abaissons nos BPA 5% en moyenne sur 2023/24. Nous maintenons en revanche notre OC de ...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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