Midcap Partners says EPC "ideally positioned" in mining, rates 'buy'

Soc D Explosifs Produits Chimiques SA

22/05/2024 10:35

** Midcap Partners initiates coverage of French explosives
maker EPC Groupe  EEPC.PA  with a "buy" rating, citing strong
growth scope in the mining sector
        ** EPC's stock is up 3.33% at 139.50 euros
  
    ** "The group is ideally positioned to take advantage of the
numerous metal mine openings" in West Africa, the Middle East,
and Canada, it says
    ** These opportunities help EPC differentiate itself from
competitors with protection from the programmed decline in coal
mining and a position in the energy transition market, it adds
    ** Midcap views the quarries and civil work industry, the
firm's historic market, as a "solid cash cow" with attractive
growth perspectives
    ** It sets its price target at 168 euros, a 24.4% upside to
stock's close on Tuesday

 (Reporting by Gaëlle Sheehan)
 ((gaelle.sheehan@thomsonreuters.com; +48 58 7785110;))