Toujours satisfaisant - ACHAT - OC 31€
Les résultats du S1 sont bons et meilleurs qu’attendus avec un CA en croissance lfl de +5,4% (vs +4,6% attendu) à 3 306m€ et un EBITA de 136m€ (vs 123m€ attendus). Toutes les branches progressent favorablement sauf Lagardère Active. Les baisses de coûts permettent cependant de stabiliser l’EBITA dans cette branche. Le groupe confirme ses guidances 2017, sans les relever du fait d’effets de base qui seront, sans surprises, moins favorables dans l’édition de livres et dans le sport. Opinion ACHAT maintenue avec un objectif de cours de 31€. Lagardère reste une histoire « value » avec un rendement élevé (4,6%).Lagardere Groupe is a holding company. Through its subsidiaries, Co. is engaged in the media industry (news, education, culture and entertainment businesses). Co.'s main activities in the media industry can be divided into four separate divisions. Lagardere Publishing includes Co.'s Book Publishing and e-Publishing businesses. Lagardere Active encompasses Co.'s Magazine Publishing, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage businesses. Lagardere Services encompasses the Travel Retail and Distribution businesses. Lagardere Unlimited specializes in sports and entertainment.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.