Report
Laurent Wilk

Va-t-elle enfin perdre sa décote historique ? - ACHAT - OC 1€

Après avoir publié, pour la première fois depuis 2010, des résultats positifs et de très bonne facture, l’échéance attendue était celle des BSA (09/06/16). L’annonce de la formation d’un Concert élargi qui exerce l’intégralité de ses BSA (soit 68% des BSA en circulation et 15,7m€ de cash in) suivi d’une OPAS à 0,70€, permet d’assurer que l’ensemble des BSA sera bien exercé (cash-in de 23,4m€) et d’apporter ainsi une excellente visibilité financière. En attendant le résultat des opérations nous conservons notre opinion ACHAT et notre objectif de cours de 1€, nous déconseillons d’apporter à l’OPAS.
Underlying
Futuren SA

Futuren is an independent producer of electricity from wind power based in France with a focus on onshore wind energy. Co. designs, builds and operates onshore wind farms in Germany, France, Morocco and Italy. Co.'s operations cover the entire value chain for producing electricity from wind energy: prospecting, development, construction and operation of wind farms. Co. operates 1,194 megawatts (MW), of which 301 MW were held for own account, 337 MW were controlled and 556 MW were operated for third parties. Co.'s portfolio of wind projects totaled 580 MW, of which 219 MW of projects having obtained a building permit or being under construction.

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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