Samsung Pay, un succès d’importance - ACHAT vs NEUTRE, OC 74€ vs 70€
Alors que la publication S1 2015 décevante et les annonces de juillet (SIM embarquée, paiement mobile) laissaient augurer un momentum difficile jusqu’au printemps 2016, l’annonce de Samsung rebat les cartes en crédibilisant la stratégie de Gemalto dans le paiement mobile. Cet élément, combiné au fort recul du titre depuis 1 mois (-20,4%), nous amène à adopter un biais plus positif sur la valeur qui ne présente plus uniquement un biais « value » (PE 2016-17 de 13,5x-11,7x). Nous relevons ainsi notre opinion de NEUTRE à ACHAT avec un objectif ajusté à 74€ (+19%) vs 70€ préc.Gemalto is a holding company. Co., through its subsidiaries, provides digital security solutions, mobile connectivity, identity and data protection, credit card safety, health and transportation services, e-government and national security by supplying to governments, wireless operators, banks and enterprises a wide range of secure personal devices, such as subscriber identification modules (SIM) in mobile phones, smart banking cards, electronic passports, and USB tokens for online identity protection. Co. also provides software, systems and services to help its customers achieve their goals. Co. operates in three business segments: Mobile Communication; Secure Transactions; and Security.
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