KBC ups Deceuninck to 'buy' on attractive valuation, profit beat

Deceuninck NV

22/08/2024 09:09

** KBC Securities upgrades Belgian designer and producer of
PVC systems Deceuninck  DECB.BR  to "buy" from "accumulate"
citing H1 core profit beat and attractive valuation 
    ** Deceuninck's posted H1 adjusted EBITDA increase of 9.6%
to 65.3 million euros ($72.69 million), well above forecasts,
KBC Securities notes
    ** KBC points to a clearly attractive valuation and expects
the group to benefit from support from the EU Green Deal in the
coming years
    ** Deceuninck recycling activities still have significant
structural growth potential, KBC adds
    ** Out of four analysts covering the stock three rate it
"buy" or "strong buy", one "hold" - LSEG data


($1 = 0.8983 euros)

 (Reporting by Dagmarah Mackos)
 ((dagmarah.mackos@tr.com))