Outlook: Weathering the storm
Following a tough tomato campaign in 2015, La Doria management has kept costs under control and delivered another quarter of results in line with expectations. The overarching strategy of shifting the production mix towards non-seasonal, value-added products with higher operating margins and lower volatility is paying off. La Doria continues to trade at a significant discount to its peers, and our DCF value of €15.84 (unchanged) suggests 26% upside to the share price.
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