Vallourec Shares Hit a 6-Year High of €27.67 Following Quarterly Results
Vallourec shares continued their ascent on Thursday, May 14, after the release of first-quarter financials. The stock reached €27.67 during the session, marking a six-year high, before settling back to €27.50. Two analysis firms raised their price targets this morning.
Oddo BHF and Goldman Sachs Raise Their Targets After Quarterly Results
Vallourec shares gained 2.15% to €27.50 in mid-afternoon trading, after hitting an intraday peak of €27.67, a six-year high. The movement extends the rally triggered by the quarterly publication. Oddo BHF raised its target from €30 to €31 while maintaining its outperformance rating. Goldman Sachs increased its target from €27.50 to €28.80, recommending a buy. Both adjustments followed the release of first-quarter accounts on Wednesday: EBITDA of $220 million, a margin of 22.6% (up 200 basis points sequentially), and a $107 million share buyback. During this May 13 release, the seamless tube specialist guided its second-quarter EBITDA to be between $175 million and $205 million, noting prolonged disruptions in the Middle East. The company confirmed its intention to distribute nearly €650 million to shareholders by August. Based on consensus, the stock is trading at about 16.5 times the expected earnings for the current fiscal year, compared to a sector average of 12 times.
Stock Breaks Above Bollinger Bands After +50% Over Three Months
The stock price is well above its moving averages. The 50-day moving average is at €22.20 (nearly 24% below the current price) and the 200-day average at €17.86. The price is above the upper Bollinger Band (boundary at €26.49), about 3.8%, an indication of overbuying. The RSI at 70 confirms this buying pressure. The performance stands at +50.7% over three months and +57% over a year. Regarding positioning, net short positions total 8.76% of the capital according to reviewed declarations, slightly up over a month. Four funds remain short sellers, including Natixis (4.09%) and LMR Partners (1.91%). The next key event is the general meeting on May 21, 2026.
