VAT Group AG : Reprise plus lente qu’attendu –Neutre maintenu, OC ajusté à 500 CHF (vs 580 CHF)
>Opinion Neutre confirmée, OC révisé à 500 CHF (vs 580 CHF) - Le titre VAT est en baisse de 12% depuis jeudi dernier. La raison étant que, même en retraitant d’un one-off lié à l’implémentation d’un ERP (logiciel de gestion) qui générera l’arrêt de la production pendant 2 semaines en août (impact de ~20 MCHF), la guidance du CA T3 reste décevante (235-255 MCHF vs css à 283 MCHF). Elle suppose une reprise plus lente que précédemment anticipé. Nous ajustons ainsi en bai...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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