Jefferies raises Vidrala to 'hold', sees no negative catalysts ahead

Vidrala SA

16/03/2023 13:41

** Jefferies upgrades Vidrala  VID.MC  to "hold" from
"underperform" as it sees no negative catalyst on the horizon
for the Spanish bottle maker
    ** The brokerage says risks that led it to previously rate
the firm "underperform", such as spot gas prices rising again in
winter and slow profitability recovery, are now less relevant 
    ** It sees the cost inflation trajectory as more stable,
with volatility reducing
    ** With gas prices declining, sentiment has shifted from
heavily energy-hedged companies such as Verallia  VRLA.PA ,
towards less burdened ones, like Vidrala, Jefferies adds
    ** It says however Verallia offers a more attractive
valuation
        ** Among the 14 analysts that cover Vidrala, six rate
the stock "strong buy" or "buy," six "hold" and two "sell" or
"strong sell"
  
    

 (Reporting by Matteo Allievi)
 ((Matteo.allievi@thomsonreuters.com))