Bryan Garnier - TECHNICOLOR (TCH.PA) TECHNICOLOR: Delivering according to plans | BUY | EUR4.3(+48%)

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Bryan Garnier

Thomas Coudry

TECHNICOLOR: Delivering according to plans | BUY | EUR4.3(+48%)

TECHNICOLOR - BUY | EUR4.3(+48%)
Delivering according to plans

Back to growth in line with our expectations
Trend in PS improving, with bright outlook ahead
Connected Home is strong, but semiconductors clouds are hanging…
Q1 comforts our investment case

12/05/2021 3 EN

Underlying

TECHNICOLOR

See profile

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

Thomas Coudry

Other Reports on these Companies

Bryan Garnier

TECHNICOLOR BUY | EUR3.8 On the right track before spin off

º Solid group results in line with our expectations, spin-off moving forward TCS growth remains strong, but EBITDA margin needs to be monitored Other activities accelerating above our expectations

July 29, 2022 July 29, 2022 1 EN

Bryan Garnier

TECHNICOLOR BUY | EUR3.8 VS. EUR4.4 Hidden value potential confirmed following CMD

In this report we are updating our valution for both TCS and Vantiva (ex-TCS) activities in light of the details provided during last week’s CMD. In particuar, we welcome the greater transparency on cash items at both businesses, which enable us to secure our forecasts and DCFs. We still believe TCS offers attractive growth opportunities, but cash flow should fall behind our initial expectations. On the other hand, Vantiva’s business might prove more attractive that the consensus currently believes, but cash generation is still expected under pressure in the coming years. Our TP is down to EUR...

June 21, 2022 June 21, 2022 1 EN

Bryan Garnier

TECHNICOLOR: TCS growth impacted by advertising | BUY | EUR4.4 vs. EUR4.5

TECHNICOLOR - BUY | EUR4.4 vs. EUR4.5 TCS growth impacted by advertising TCS growth is slowing down, but fx is helping Estimates slightly revised with limited impact on TP

June 7, 2022 June 7, 2022 1 EN

Median Technologies: reports Q1 2024 results

Median reconfirmed previously shared FY 2023 and reported Q1 2024 results this morning. FY 2023 sales were confirmed at EUR 22.2m representing a 7% drop vs. 2022, as iCRO business has been hampered by the COVID crisis in China. While the first three-quarter 2023 revenues were stable at ~5.6m per qu

16h / 38m 16h / 38m 1 EN

Clement Genelot

Clement Genelot

Jeronimo Martins: Q1 topping expectations; price war ongoing in Poland

With Q1 topping expectations in terms of both sales and EBITDA, notably thanks to Biedronla, we foresee a positive share price reaction this morning. But reiterated gloomy FY guidance combined with no early signs of the price war easing in Poland still suggests caution is advisable.

18h / 14m 18h / 14m 1 EN

Paul de Froment ... (+3)

Paul de Froment
Sebastián Marroquin Mérida
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Nel: Capacity reservation agreement with Hy Stor Energy

This morning, Nel announced a multi-year capacity reservation agreement (CRA) with Hy Stor Energy, representing more than 1GW of alkaline electrolyser capacity combined over 2025/2027, for its Mississippi Clean Hydrogen Hub (MCHH) project. The project is still pending regulatory approvals, financin

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TECHNICOLOR: Delivering according to plans | BUY | EUR4.3(+48%)

TECHNICOLOR BUY | EUR3.8 On the right track before spin off

TECHNICOLOR BUY | EUR3.8 VS. EUR4.4 Hidden value potential confirmed following CMD

TECHNICOLOR: TCS growth impacted by advertising | BUY | EUR4.4 vs. EUR4.5

Median Technologies: reports Q1 2024 results

Jeronimo Martins: Q1 topping expectations; price war ongoing in Poland

Nel: Capacity reservation agreement with Hy Stor Energy

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