Besoin de plus de visibilité sur la nouvelle stratégie - NEUTRE vs ACHAT - OBJECTIF : 7,8€ (vs 8,6€)
En l’absence de comptes détaillés, les résultats S1 2016 publiés hier matin ne permettent pas de tirer de réels enseignements, en dehors d’une croissance du CA plus faible qu’attendu sur l’activité B2B et d’une consommation de trésorerie opérationnelle plus importante qu’escompté. En 1ère approche et dans l’attente des comptes détaillés, nous abaissons de 20% nos estimations de CA 2015-20e, avec un impact sensible sur nos prévisions de résultats et notre objectif de cours (7,8€ vs 8,6€ préc). Si nous sommes convaincus du potentiel du marché de la Silver Economie (1,5m de français aujourd’hui et 5m à LT), nous abaissons temporairement notre recommandation à NEUTRE vs ACHAT dans l’attente d’une plus grande visibilité sur la stratégie.Bluelinea S A. Bluelinea SA is a France-based company engaged in the medical sector. Bluelinea SA specializes in designing and developing electronic surveillance and medical teleassistance systems. It offers caregiver identification and authentication badges, individual protection bracelets for newborns, and home care and treatment devices for fragile or chronically ill elderly persons. The Company cooperates with Europe-based partners, including Everon Oy/Ab and Hager group, among others.
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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