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TECHNIP (TEC)

2120
End-of-day quote. End-of-day quote TRADEGATE AG - 11/30
0.0000 EUR   0.00%
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TECHNIP : Perfect timing for a technical rebound

02/12/2013 | 03:58am
Opinion : Bullish above EUR 77.45
Target price : EUR 82.8
Stop loss: EUR 75.8
EURONEXT PARIS
Oil Related Services and Equipment

In the past few sessions, Technip shares have suffered from a sharp fall and is now coming back on significant level support.

From a fundamental viewpoint, the security is cheap with a PER of 17.18x for 2012 and 13.45x for 2013. Besides, EV/Sales is low with a ratio at 1.01x for this year.

Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the EUR 77.45 area should stop this trend and allow a technical rebound towards EUR 82.75. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.

Therefore, the proximity of the EUR 77.45 support is an opportunity to take a long position in Technip. The first goal is a return in the EUR 82.75 resistance area. In fact, the security has to cross this area in order to re-establish a bullish trend in the short term. A stop loss order can be placed under the support currently tested.

TECHNIP : TECHNIP : Perfect timing for a technical rebound

© Zonebourse.com 2013



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Financial Ratios

Size 2014e 2015e
Capitalization 5 708 M€ -
Entreprise Value (EV) 5 437 M€ 5 218 M€
Valuation 2014e 2015e
PER (Price / EPS) 11,4x 8,45x
Capitalization / Revenue 0,54x 0,50x
EV / Revenue 0,52x 0,46x
EV / EBITDA 5,09x 3,95x
Yield (DPS / Price) 3,74% 4,27%
Profitability 2014e 2015e
Operating Margin (EBIT / Sales) 7,69% 9,29%
operating Leverage (Delta EBIT / Delta Sales) - 3,92x
Net Margin (Net Profit / Revenue) 4,85% 6,24%
ROA (Net Profit / Asset) 4,41% 5,92%
ROE (Net Profit / Equities) 12,1% 14,8%
Rate of Dividend 42,6% 36,0%
Balance Sheet Analysis 2014e 2015e
CAPEX / Sales   4,10% 4,17%
Cash Flow / Sales (Taux d'autofinancement) 6,50% 8,09%
Capital Intensity (Assets / Sales) 1,10x 1,05x
Financial Leverage (Net Debt / EBITDA) -0,25x -0,37x
Income Statement Evolution
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