Report
Laurent Wilk

Un pure player dans un secteur en plein décollage - ACHAT - OC 14,5€

Nous ne sommes qu’au début de l’ère des Drones. Si la technologie provient du domaine militaire pour des missions de surveillance et de frappes, les applications civiles sont loin d’être toutes identifiées. Une chose est sûre : la formidable croissance du marché pour les années à venir semble mettre tout le monde d’accord. Drone Volt est un pure player du secteur depuis 2012 et l’un des premiers à adresser particulièrement les professionnels. Notre valorisation repose sur un DCF dont le paramètre clé est la gestion de l’hypercroissance (BFR et montée en puissance des marges). Avec une marge d’exploitation normative de 15% et un BFR stable à 20% du CA, notre objectif de cours ressort à 14,5€/titre (+37%). Nous initions la couverture de la valeur à l’ACHAT.
Underlying
DRONE VOLT SA

Drone Volt SA. Drone Volt SA is a France-based company principally engaged in the aerospace industry. The Company provides civilian drone manufacturing. It specializes in the production, integration and sale of drones for professionals. Drone Volt is a provider of the audiovisual market in the field of aerial photography by drone. The Company is also present in many other markets such as security and topography, among others. The Company's main product is the Pack PRO FOR GH4 S900. It cooperates with Ministry of Internal Affaires, Ministry of Defense, CERN, Gendarmerie Transports Aeriens (aerial transport police), Dakar 2015, Spie, TF1, Bouygues, CNRS, Bonne Pioche, RAID and GEDEON Programmes, among others. It operates through Dandrone.

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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