Report
Clement Genelot

FNAC DARTY: Limited negative read-across from the sentence of SFAM for Fnac Darty | BUY - Top Picks | EUR94(+37%)

FNAC DARTY - BUY - Top Picks | EUR94(+37%)
Limited negative read-across from the sentence of SFAM for Fnac Darty

The EUR10m fine imposed on SFAM…
…created a stress on Fnac Darty share price
The probability of Fnac Darty receiving a fine is low to us
The probability of SFAM selling its Fnac Darty shares is low to us
Buy confirmed, valuation coming back to very attractive levels
Underlying
Fnac Darty SA

Fnac Darty is engaged in the leisure and entertainment, technology, and household appliances retail market in France and a player on markets in other countries where it operates such as Spain, Portugal, Belgium, the Netherlands and Switzerland. Fnac Darty also has franchise operations in Morocco, Qatar and Ivory Coast.

Provider
Bryan Garnier
Bryan Garnier

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.

Analysts
Clement Genelot

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