Fnac Darty - A warning that doesn't come as a surprise, and a speculative aspect that's still on the agenda
The Group is one of the first to be neglected in the context of tense purchasing power, and although sales held up rather well in Q3, Fnac has cautiously revised its profitability forecasts for 2023.Speculation about a takeover by Czech billionaire Daniel Kretinsky is still causing a stir on the stock, which is being shunned by investors due to the current economic climate.Valuation at scrap point, almost back to pandemic levels, when the market “valued” the end of the world.We remain at BUY for valuation reasons, not to mention the speculative trigger, while newsflow remains poorly oriented towards consumer spending.Fnac Darty is engaged in the leisure and entertainment, technology, and household appliances retail market in France and a player on markets in other countries where it operates such as Spain, Portugal, Belgium, the Netherlands and Switzerland. Fnac Darty also has franchise operations in Morocco, Qatar and Ivory Coast.
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