We were wrong to think the US operations were in the price. With this report we up our EBITDA forecasts by 15%, which puts the shares on 6.7x EBITDA in 2016. We underestimated Titan’s pricing power once…but not again. We consider 2013 as the inflexion point and we expect margin improvement over the next couple of years. One of the strongest management teams in corporate Greece …to access this report  contact@researchgreece.com

Leading to EBITDA upgrades for this year and next. Pricing was above our expectations and specifically in the US. Where there should be more increases next year. Strong FCF generation should continue. Will the Greek 2006-08 era repeat itself? EBITDA of cE190m?. If yes perpetual EBITDA could flirt with E500m and our target price with …to access this report  contact@researchgreece.com