Rating upgrade on momentum inflection
Mensch Und Maschine's first quarter results unveiled yesterday reflected a solid start to the year with revenue up 21%; i.e., 12.8%/5.9% ahead of consensus and our expectations. Although we anticipate a decline in VAR revenues throughout the year, we turn positive on the investment case as we consi
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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