Tecnicas Reunidas Looks Different in Continuous Market Backed by Barclays

Tecnicas Reunidas Looks Different in Continuous Market Backed by Barclays

Technicas Renidas continues to be one of the best performing stocks in the market in this Thursday’s session after better recommendation from Barclays. The company’s shares register a revaluation in the first bar of the conversation of 2.45% to reach 8.56 euros.

After being chained for three days the price regrouped and resumed the upward move. So far this year, Technicas Reunidas shares have gained 3.35% with a market capitalization of around 700 million euros.

barge Barclays Analyst boost titles with A recommendation correction, which moves from ‘equal to market’ to ‘overweight’,

This improvement comes after the company announced last week IIn the first quarter of the year, it made a net profit of 20.4 million euros, a figure 17 times that of the same period in 2022, when it earned 1.2 million euros.

Sales rose 45% to 1,119 million euros between January and March, compared to 773 million euros in the first quarter of 2022, thanks to a “strong recovery of operations” despite a “high volatility” scenario, which took place for the first time. half of 2022 and that affected raw material prices and labor availability.

Técnicas Reunidas’ net operating result (Ebit) reached 38.9 million euros in the first three months of the year, representing an Ebit margin on sales of 3.5%, compared to 0.9% in the first quarter of 2022.

In general, analysts are optimistic about the path that awaits Technicus Renidas on the stock exchange. According to data compiled by Reuters, analysis houses covering the stock on average give a ‘Hold’ recommendation with a target price of 10.37 euros, which is a 22% upside from the current price.