Report
Laurent Wilk

Des pertes nécessaires…pour rester dans la course - ACHAT - OC 12,6€ (vs 18,2€)

Dans la foulée des résultats semestriels publiés vendredi et suite au contrat annoncé ce jour nous intégrons à notre modèle le marché des additifs pour l’alimentation animale avec une hypothèse de taux de royalties de 8% mais sans impact positif avant 2018. Cependant, la situation de trésorerie de la société implique, à notre sens, une nouvelle augmentation de capital à venir et une augmentation de la prime de risque spécifique sur la valorisation. Celle-ci ressort à 12,6€/action (vs 18,2€), nous maintenons notre recommandation d’ACHAT suite à la récente baisse du cours.
Underlying
Deinove S.A.

Deinove SA is a biotechnology company dedicated to the discovery, development and production of compounds based on the use of rare bacterial genus that present an interest to the health, nutrition and cosmetics sectors.

Provider
Invest Securities
Invest Securities

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.

Analysts
Laurent Wilk

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