Credit Suisse raised the price target for Aperam from 49.00 to 54.00 euro on Friday with an unchanged Outperform advice. Aperam recorded a significantly higher adjusted EBITDA than expected in the second quarter, according to analyst Carsten Riek.

Aperam is also positive about the third quarter, which was a surprise, Riek believes. That is why Credit Suisse has increased expectations by 21 percent for 2021 and by 11 percent for 2022.

With a basic dividend of 1.75 euros per share and a 100 million euro share purchase program, approximately 240 million euros will flow back to shareholders in 2022. According to the bank, Aperam’s balance sheet is therefore “in good condition”, which gives room to reward the shareholder even better. The share Aperam rose 1.0 percent to 54.18 euros on Friday.

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