Report
Clement Genelot

Fnac Darty: EBIT miss, FCF beat and limited downside risk from now on

Following a mixed FY publication (EBIT miss, vague EBIT guidance, FCF beat), we now feel that downside risk is limited with the consensus rebasing at last and cash generation helping to set a floor. Upgrade from Sell to Neutral as the lack of short-term M&A speculation and uncertainties around
Underlying
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

Other Reports on these Companies
Other Reports from Bryan Garnier

ResearchPool Subscriptions

Get the most out of your insights

Get in touch