Le S2 2016 a bien commencé, valorisation en retard - ACHAT vs NEUTRE - OC 35€ (vs 31€)
Le déjeuner Invest Securities qui se déroulait vendredi dernier permet de conforter nos anticipations. Le S2 16 devrait notamment bénéficier d’un « news-flow » rassurant sur (i) le CA T3 (le 20 octobre) probablement en rebond en Europe (effet JLR au UK) et en zone NAFTA et (ii) l’exécution, depuis le 1/08/16, de l’intégration de Faurecia Extérieurs (FAE). Nous maintenons notre scenario sur les impacts de la consolidation de FAE au S2 16 et globalement nos BNA 2016-18, relevés suite à la publication S1. Après actualisation des données de marché, notre valorisation par DCF et comparables est rehaussée à 35€ (vs 31€). Au regard du potentiel de +22%, notre opinion est relevée à ACHAT vs NEUTRE.Compagnie Plastic Omnium is a manufacturing and services company which partners with car manufacturers and local communities, through its two core businesses which are Automotive Equipment and Environment. Co.'s activities can be divided into two divisions: the Automotive division and the Environment division. The Automotive division designs, manufactures and sells vehicle body parts (exterior parts and modules) and plastic fuel systems. The Environment division provides products and services for local authorities, including waste pre-collection and management equipment and services, and road and highway signage.
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.