Une situation améliorée, mais une dette encore élevée - NEUTRE, OC 3,7€
Quantel est leader mondial des lasers nanosecondes à destination des marchés industriel et scientifique et occupe une part de marché significative dans les lasers ophtalmologiques. Ces deux activités devraient progresser régulièrement sur les exercices à venir, avec une croissance plus rapide dans l’ophtalmologie. La structure financière du groupe reste pénalisée par un endettement important avec notamment le remboursement de 4,7m€ d’une Océane, début 2015. Etant données ces incertitudes à brève échéance, nous initions la couverture de Quantel avec une recommandation NEUTRE et un objectif de cours de 3,7€ sur la base d’un DCF.Quantel and its subsidiaries are engaged in the production, development and distribution of lasers for medical applications mainly in ophthalmology and dermatology. Co. produces lasers for scientific instrumentation involved in research and development and underwater lasers. Co. also provides laser impulses for industrial applications such as laser cleaning or material processing.
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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