Des marges d’EBITA sous pression à CT - NEUTRE vs ACHAT - OC 32,8€ (vs 34,5€)
Si le CA contributif ressort à +4,9% et que tous les agrégats sont en progression à périmètre constant, l’accélération de la croissance reste la principale interrogation : l’international ne décolle pas et les réservoirs de croissance en France semblent bien maigres. Si les guidances données pour 2016 sont confirmées, elles sont maintenant assorties, du moins pour l’EBITA, de retraitements « opportuns ». Ainsi nous révisons à la baisse nos marges d’EBITA 2016-18, ce qui nous conduit à ajuster notre objectif de cours à 32,8€ (vs 34,5€ préc) et abaisser notre recommandation à NEUTRE (vs ACHAT).Seche Environnement offers environmental management solutions for industrial clients or local authorities. Co. operates waste treatment and recovery facilities and develops tools to produce energy from waste. Co. also collects and sorts all types of waste, whether household or industrial, hazardous or non-hazardous. For local authorities, Co. manages household waste and other environmental concerns. Co. is engaged in thermal treatment, storage, methanization of household waste and production of alternative fuels. For industrial clients, Co. has developed products and services for handling industrial waste from waste production sites to elimination facilities.
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.