TARKETT: Cautious views maintained | NEUTRAL | EUR18 vs. EUR21 (+9%)
TARKETT - NEUTRAL | EUR18 vs. EUR21 (+9%)Cautious views maintained
We appreciate H2 should be much better
But momentum and sentiment are clearly unfavourable
New estimates revised down by 7% on the adjusted EBITDA
New FV at EUR18 (vs EUR21), Neutral maintained
Tarkett is a global flooring company, providing a large range of flooring and sports surface solutions to business and residential end-users. Co. is organized in four segments: Europe, Middle East and Africa (“EMEA”); North America; Commonwealth of Independent States (“CIS”), Asia Pacific (“APAC”) and Latin America; and Sports Surfaces.
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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