COFACE: The ultimate crash test | NEUTRAL | EUR6 vs. EUR12.5 (+5%)
COFACE - NEUTRAL | EUR6 vs. EUR12.5 (+5%)The ultimate crash test
Solvency and cash suggest the company is ready
Terrible quarters ahead, 2021 not back to normal
Neutral recommendation considering the very low visibility
Coface is a holding company that performs its activities through its primary operating subsidiary, Compagnie franASSaise d'assurance pour le commerce extA(c)rieur and its subsidiaries. Through its subsidiaries, Co. is a provider of credit insurance to businesses with solutions to protect them against the rist of client insolvency on both domestic and export markets.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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