Hella: 2017/18 preliminary results in line with cons. but slightly above BG estimates
Hella: (NEUTRAL, Fair Value EUR51 (+3%))2017/18 preliminary results in line with cons. but slightly above BG estimates
This morning, Hella unveiled its 2017/18 preliminary figures ahead of its official and full annual earnings publication on August 10th. Figures posted are quite reassuring for the automotive sector as despite important headwinds affecting the industry over past quarters (trade tensions, FX…) earnings came out in line with markets expectations. We confirm our Neutral rating on the case.
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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