L'ambiance adverse du secteur, USA en tête, continue de peser - ACHAT - OC 24,4€ (vs 23,8€)
Les chiffres du T1 à publier (10 mai) ne sauraient a priori rompre avec la circonspection que le dossier inspire. Prudence qui repose sur la multiplication des incertitudes sur le marché US, entre la déflation ambiante, le reset concurrentiel de Wal Mart, mais aussi la surmédiatisation des velléités du e commerce en alimentaire, sans compter le débarquement de Lidl annoncé en grande pompe dans des zones opérées par Delhaize America. Cela ne remet pas en cause les vertus premières du dossier, à savoir son potentiel de création de FCF dans le nouveau périmètre, avec un rdt instantané (7%) qui fait une prime sans égal.Koninklijke Ahold Delhaize is an international group of supermarket and foodservice operators based in Europe and the U.S. Co. operates supermarkets and convenience stores. In addition, Co. provides online food retailing services. Co. also finances, develops and manages store sites and shopping centers. Ahold Europe comprises Albert Heijn in the Netherlands and Belgium; Etos, Gall & Gall, and albert.nl in the Netherlands; and Albert / Hypernova in the Czech Republic and Slovakia. Ahold USA is organized into four retail divisions: Giant Carlisle, Giant Landover, Stop & Shop New England, and Stop & Shop New York Metro. The Peapod online business is also part of Ahold USA.
Since 2006, Invest Securities has become one of the leading players in investment services for funds and managers, to whom we offer a global and personalised service. Our track record differentiates us and proves our leadership in numerous promising sectors like property and growth companies.
Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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