Report
Laurent Wilk

Pause après un parcours stratosphérique - NEUTRE vs ACHAT - OC 14,3€ (vs 11,6€)

Le CA T3 ressort à 2,7m€ (+93%) et marque une nouvelle accélération par rapport au T2 (+17,4%). En même temps, le carnet de commandes, atteint 12,9m€ au 31/10 (+122% sur 1 an) et vient conforter notre prévision annuelle (CA 2017e 15,6m€) si la société parvient à livrer dans les temps. Cette nouvelle publication valide notre approche initiée à l’occasion des résultats S1 (le risque intrinsèque n’est plus qu’un risque d’exécution) et abaissons à nouveau notre prime spécifique d’1 point. Notre nouvel objectif est fortement relevé à 14,3€ (vs 11,6€) mais suite au parcours récent du titre (+102% en 3 mois) nous dégradons notre recommandation à NEUTRE (vs ACHAT).
Underlying
Engie EPS SA

Engie Eps SA, formerly know as Electro Power Systems, is a France-based technology company. It focuses on energy storage systems and microgrids towards renewable sources and decentralized energy production. The Company owns a portfolio of hybrid energy storage systems (HyESS) offering fully integrated storage solutions for a wide range of applications, such as grid support and distributed energy solutions, microgrids and storage technologies, among others. The Company's technology is a spin-off of the Turin and Milan Polytechnics, is protected by 130 patents, registered in 33 countries worldwide and over 500 registered industrial secrets.

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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