Plastivaloire: Slumps on outlook cut; analysts downgrade stock's rating

Plastiques du Val de Loire SA

16/11/2018 08:23

** Shares in plastic manufacturer Plastivaloire  PLVP.PA 
down 11.1% as it reports revenues below expectations and cuts
profits targets 
    ** Sees EBITDA margin of 10.5% (vs 12-12.5% previously)
 urn:newsml:reuters.com:*:nFWN1XQ0SQ
    ** Both Portzamparc and Midcap Partners say numbers were
worse then expected
    ** Portzamparc says co is unable to resist to the numerous
headwinds in the sector -- cuts to hold
    ** Midcap says margin guidance levels much lower than it
expected -- cuts f'casts for recurring operating income by 18%
    ** Midcap also downgrades to "neutral" and slashed PT by 40%
to EUR 13
    ** Stock set for worst day in since early 2009 and is the
second worst performer on Euronext Next 150  .N150 
        

 (piotr.lipinski@tr.com)