LL schreef op 22 mei 2025 18:26:
BUZZ-Kepler Cheuvreux resumes Aperam with 'buy' as it's 'recast for the future'09:23 22/05/2025
Kepler Cheuvreux resumes coverage of Luxembourg-based stainless steel producer Aperam with "buy" rating, citing its diversification along the stainless steel value chain and strict savings plan enhancing EBITDA
The broker says Aperam has become a much stronger company, with capacity to lift normalised adjusted EBITDA by EUR 300 million to over EUR 700-800 million
"We see it as a good way to play the recovery of the European (German) economy," Kepler Cheuvreux says, also noting Aperam's cost efficiency and exposure to the Brazilian market
Aperam's diversification and integration of Universal Stainless & Alloy provides increasing exposure to attractive niches, the broker adds
By reducing its exposure to the cyclicality of the stainless steel business to less than 50% of adjusted EBITDA, Aperam is "recast for the future," Kepler Cheuvreux says
(Reporting by Anna Peverieri)
((Anna.peverieri@thomsonreuters.com))