Vers un nouveau cycle vertueux - ACHAT vs VENTE - OC 3,6€ (vs 3€)
La société a publié des résultats annuels (clôture au 30/09/2015) en nette amélioration. Le RNpdg ressort à 29,1m€ (vs -8m€) grâce à une amélioration de la rentabilité, peu d’éléments non récurrents et une diminution substantielle de l’endettement (-45m€). Cette performance est d’autant plus remarquable qu’elle est réalisée dans un contexte qui reste défavorable. Avec la reprise du dividende, des perspectives plutôt rassurantes sur l’activité Services à l’Environnement et un cours qui a perdu 20% en 3 mois, nous pensons que le moment est opportun pour revenir sur le titre. Nous relevons notre recommandation de VENTE à ACHAT avec un objectif de 3,6€ (vs 3€).Derichebourg provides services to businesses and to local and municipal authorities. Co. covers the entire waste recycling chain, from collection through to recuperation, as well as a range of services to businesses and to local and municipal authorities. Co.'s activities can be divided into three segments: Environmental Services segment which is engaged in the processing and disposal of waste and of end-of-life products; Business Services segment which offers a range of front end services (reception, cleaning, energy, parks and gardens maintenance, temporary workers) and Airport Services segment which provides outsourced airport services like services for stopover management and airfreight.
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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