FNAC DARTY - BUY | EUR62 VS. EUR59 (+11%) More resilient end of the year with an upgraded guidance
FNAC DARTY - BUY | EUR62 VS. EUR59 (+11%)More resilient end of the year with an upgraded guidance
Q3 LfL growth more resilient than anticipated at -0.5%
No major shortage issues with only telephone and gaming at risk
FY 2021 guidance slightly upgraded
Buy reiterated with a TP of EUR62 vs EUR59
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.
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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