Un S2 2015 rassurant et une valorisation attractive - ACHAT - OC 15,5€ (vs 17,5€)
Les résultats 2015 sont légèrement supérieurs au consensus, le S2 ayant compensé partiellement les difficultés rencontrées au S1. L’incertitude sur les compensations de coûts des centrales thermiques est levée et la mise en service des deux projets en cours est confirmée sur 2017. Même si nous n’attendons (hors acquisition) aucun newsflow particulier sur 2016, la valorisation actuelle nous semble un excellent point d’entrée. Nous restons à l’ACHAT avec un objectif de 15,5€ (vs 17,5€).Albioma is an independent energy producer that develops projects in the thermal biomass, solar power, and anaerobic digestion sectors. Co. provides industrial partners with expertise in energy production via hybrid combustion of biomass. In addition, Co. produces biogas by biological decomposition of organic matter in a confined oxygen-free medium, which it either converts into electricity and heat or purifies and then injects into the gas transmission network. It operates facilities on Reunion Island, Mayotte, Guadeloupe, Martinique, and French Guyana, mainland France and Southern Europe. Co. divides its operation into three segments: Thermal Biomass, Solar Power, and Anaerobic Digestion.
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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