Un emballement excessif ! - VENTE vs ACHAT - OC 32,6€ (vs 28,6€)
L’actualité récente est très riche, notamment sur la branche « Drone », probablement celle qui a attiré un fonds américain venant de déclarer avoir franchi le seuil des 5% du capital. La prise de contrôle de deux participations est également de nature à valider les technologies dans lesquelles Parrot avait investi. Ces éléments nous confortent dans nos prévisions mais ne nous permettent pas, à ce stade, de les relever, d’autant que l’évolution de la branche « Auto » reste incertaine. L’actualisation de notre DCF nous conduit néanmoins à relever notre objectif de 28,6€ à 32,6€, mais l’évolution récente du cours (+91% en 3 mois) qui nous semble excessive, malgré des perspectives attrayantes, nous incite à abaisser notre recommandation d’ACHAT à VENTE.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.
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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