Not every day you see full consensus. As reported today by Cinco Días, Tubacex is one of the few Spanish stocks covered entirely with Buy recommendations—coming off a record 2024 and a solid 2025 so far. The share trades around €3.70 while Bloomberg’s consensus target sits at €5.26, implying ~40% upside. Year to date it’s up about 10%, still shy of the €4.39 March high after the tariff wobble, but momentum has been rebuilding.
Under the hood, the story is quality over quantity: a backlog of roughly €1.4bn skewed to higher-value solutions; strategic moves like the sale of 49% of OCTG to Mubadala for $200m, opening more doors in the Middle East; and technology monetization through licensing that complements the core business. Despite a slower tendering pace in a jittery macro, execution keeps showing up—H1 2025 EBITDA ~€30m and net income €15.6m, above expectations.
And the upside remains very real. Beyond valuation, Tubacex is technology-neutral—serving conventional energy, low-carbon processes, and emerging transition uses with the same engineering depth—which lets us support customers wherever the energy mix goes. That stance, together with a balanced industrial footprint across North America, Europe, and Asia—including seven customer-dedicated, integrated sites in the U.S. delivering high value-added products close to end users—translates into resilience and a tangible contribution to energy supply security: diversified sources, reliable lead times, and critical materials engineered for demanding environments.
More information here: Tubacex, el gigante dormido con pleno de recomendaciones de compra | Mercados Financieros | Cinco Días