Bryan Garnier - SOMFY (DAMA.PA) SOMFY - BUY | EUR170 Somfy 1Q22 results: turmoil from Ukrainian war not yet in sight

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Bryan Garnier

Thibault Morel

SOMFY - BUY | EUR170 Somfy 1Q22 results: turmoil from Ukrainian war not yet in sight

SOMFY - BUY | EUR170
Somfy 1Q22 results: turmoil from Ukrainian war not yet in sight

Another strong quarter in 1Q22 despite supply chain issues
Buy reiterated, cautious on next quarters

22/04/2022 1 EN

Underlying

SOMFY

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Provider

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.

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Analysts

Thibault Morel

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SOMFY - BUY | EUR170 Somfy 1Q22 results: turmoil from Ukrainian war not yet in sight

SOMFY: Better 1H22 margin than expected, attractive valuation despite weakening demand | BUY | EUR155

SOMFY BUY | EUR155 Lower than expected Q2 sales: the storm is coming earlier and stronger than expected

TECHNOLOGY Excessive relative derating for Schneider and Somfy

ONWARD: from brainGPT to ARC-BCI – fireside chat with the founders

Avantium: joint-development progress in textiles

Egetis: Article highlights Emcitate's broad efficacy in MCT8 deficiency

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