The importance of the level of 2 euros for the share of ElvalHalcor (ELHA) has been observed, which is the limit of the multi-month -unreasonable- fall of the share price and the horizontal incline from the end of July.
The securing of this with strong volumes of more than twice the average, in relation to its excellent financial results for the first half of the year, strengthens the belief that on the one hand the stock is moving towards 2.40, as the first target of the split, on the other hand it is very “cheap” in the medium term, with the level based on finance being 3.20. The close support of the share is located at 1.96 euros.
Regarding the Group’s performance, its turnover for the first half of the year increased by 34.6% on an annual basis and amounted to 1.34 billion euros.
ElvalHalcor EBITDA also increased by 135%, reaching 0.12 billion euros.
It is worth noting that the group is in a phase of dynamic growth, which is expected to bear fruit despite the uncertainty that exists over the evolution of the pandemic.
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