Vallourec: up, a broker initiates coverage of the stock

(CercleFinance.com) - Vallourec gains nearly 2% in Paris, as TP ICAP Midcap announces it is initiating coverage of the stock with a buy recommendation and a price target of 21 euros, highlighting the rebirth of a 'phoenix'.


Drastically transformed since 2021 and buoyed by buoyant markets, Vallourec is in the process of being totally deleveraged and generating substantial returns for its shareholders", explains the brokerage firm in a note.

However, "the market does not yet seem to be valuing this healthy cyclical 'value' at its fair measure", writes the investment bank in its study.

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