01.09.2016

Zugemailt von / gefunden bei: RCB (BSN-Hinweis: Lauftext im Original des Aussenders, Titel (immer) und Bebilderung (oft) durch boerse-social.com aus dem Fotoarchiv von photaq.com)

PORR confirmed at BUY, TP EUR 34.5 - Solid 2Q results warrant minor increase of forecasts and TP 

- We reiterate the BUY recommendation on the back of a moderate target price increase to EUR 34.5 from EUR 34
- The company delivered a solid set of 2Q figures that throughout all lines were in line with to fractionally ahead of our forecasts
- From our point of view, the 2Q release provided no new aspects to the investment story, but PORR continues to deliver output and earnings growth and to optimise working capital efficiency and debt refinancing
- We have fine-tuned our estimates with EBITDA upgrades of 4% in the current year (EUR 184 mn) and 1% for 2017-18e (EUR 187 mn and EUR 197 mn, respectively)
- The stock offers a 4.4% yield and the valuation vs. the peer group remains attractive with discounts on most multiples
 
 

Company im Artikel

Porr

Bogen, Bogenschiessen, gespannt, angespannt, Spannung, straff, Pfeil, Schütze, Treffer, zielen, Amazone, http://www.shutterstock.com/de/pic-185971181/stock-photo-young-woman-arrow-shooting.html © (www.shutterstock.com)

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