FY17 analysts' meeting feedback: improving earnings momentum
We raise our DCF-derived Fair Value to EUR48 from EUR40 following the analysts’ meeting heldyesterday, as we reduce our company beta to 1.47 from 1.66 in our multidimensional approach in
order to better reflect EasyVista’s improving earnings momentum. In 2018, the company is poised to
benefit from solid revenue growth driven by renewable licensing, strong operating leverage, a
strengthened US organisation, and cash flow turnaround.
Easyvista SA. Easyvista SA is a France-based company that specializes in information technology (IT) management. The Company provides integrated and modular solutions to cover a range of IT management requirements, including programs for inventories, audits, and asset management for IT and telecommunication equipment, among others. In addition, it offers maintenance, training and consulting services relating to its software programs. The Company's products are primarily marketed under the EasyVista brand name, offering EasyVista Classic (the traditional license option) and EasyVista.com (Software as a Service mode). The Company is operational in six countries, including France, the United States, the United Kingdom, Spain, Portugal and Italy, and has also a network of over 60 certified partners in 16 countries in Europe, Africa, the United States, Canada and Asia. It operates through Rift Technologies and Knowesia SAS.
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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