Report
Clement Genelot

FNAC DARTY: Already surprised and still has the potential to surprise in H2 | NEUTRAL vs. SELL | EUR59 VS. EUR52 (+9%)

FNAC DARTY - NEUTRAL vs. SELL | EUR59 VS. EUR52 (+9%)
Already surprised and still has the potential to surprise in H2

Sales growth hasn’t decelerated in Q2
EBIT margin well rebounded in H1
Sales and EBIT guidance upgraded
Time to upgrade from Sell to Neutral in light of improving momentum
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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