Report
Vicat: Buy reiterated following a company contact
Vicat: (BUY, Fair Value EUR75 vs. EUR71 (+27%))Buy reiterated following a company contact
Despite forex impact and lasting uncertainties in some countries, we see Vicat as a decent investment opportunity. Visibility on Turkey is very low but core markets France, US and in a lesser extent India remain well oriented, while we estimate the Egyptian situation could hardly be worse. Finally, the group is now in a position, and opened, to do an acquisition again. Although the group has not made any specific commitment, a deal would be well received by the market. Buy reiterated.
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.
Eric Lemarie
Other Reports from Bryan Garnier
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.