Report
Laurent Wilk

Mais où va l’Auto ? - ACHAT - OC 24,7€

Les résultats T4 14 sont marqués par la confirmation du retour à une croissance forte, initiée au T3 et tirée par l’activité Drones. Le CA annuel ressort en légère hausse et l’excellente tenue de la MB annuelle confirme la montée en puissance de celle des Drones. L’évolution défavorable du segment Automobile reste le principal sujet : nous préférons décaler à 2017 une reprise qui se fait attendre sur cette activité mais sommes plus que jamais confiant sur l’évolution du marché des Drones légers et la capacité de Parrot à y devenir un acteur incontournable. Nous réitérons notre recommandation ACHAT avec un objectif de cours inchangé de 24,7€ (+27%).
Underlying
Parrot SA

Parrot is a global player in wireless mobile phone accessories, specialized in designing and marketing wireless devices for mobile phones. Co. activities cover both retail customers (installed hands free kits, Plug & Play hands free kits and Multimedia products), and auto industry professionals. Co. developed three retail product ranges: two for vehicles and one for the house. Vehicle products are hand-free kits installed, in most cases, by professionals after vehicle purchase; and Plug & Play products, which are hands-free systems usable upon purchase. House products include multimedia products, allowing users to share multimedia contents on mobile phones.

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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