Vallourec: TP ICAP Midcap initiates coverage as buyer

(CercleFinance.com) - On Thursday TP ICAP Midcap announced that it has begun tracking Vallourec shares with a buy recommendation and a target price of E21, highlighting the rebirth of a 'phoenix'.


Drastically transformed since 2021 and boosted by buoyant markets, Vallourec is in the process of being totally deleveraged and generating substantial returns for its shareholders, the broker says.

However, the market does not yet seem to be valuing this healthy cyclical 'value' at its fair measure, it writes.


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