La guidance 2015 ne doit pas occulter l’excellent cru 2014 - ACHAT, OC 108€ vs 98€
En dépit de résultats 2014 d’excellente qualité et supérieurs de 4% à nos attentes, cette publication laisse une impression mitigée du fait d’une prudence excessive – une nouvelle fois - sur l’objectif 2015 de marge d’EBITDA (21%). Ceci n’est pas un sujet pour nous qui relevons notre prévision de marge d’EBITDA 2015 de 21,6% à 22,1%, ainsi que notre objectif de cours à 108€ vs 98€ préc. Nous réitérons notre opinion à ACHAT et considérons toute réaction négative du titre ce matin comme un point d’entrée.Ingenico Group is a business technology company, operating in 125 countries. Co. designs, develops and supplies payment terminals, offering mercantile payment solutions, cross-border and global payment services and certified global service platform. Co.'s services are done around Payment terminals and software; Terminal estate management, security application updates; Connectivity ensuring the terminal-to-bank host connection; Full after-sales service taking charge of every phase in the lifecycle of terminals and software; 24/7, from installation, maintenance & repair to upgrades; Centralization of transactions; End-to-end security - from terminal to bank or processor..
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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