Nouveaux financements et expansion commerciale - NEUTRE - OC 3,6€ (vs 2,8€)
Suite à un contact société, nous revenons sur les 2 accords commerciaux (Chine, US) ainsi que sur les modalités de l’AK réservée. Nos estimations de CA restent inchangées car ces annonces étaient déjà intégrées dans nos anticipations de croissance à MT. Après (i) ajustement du nombre d’instruments dilutifs (900k actions nouvelles vs 1,25m actions novelles précédemment), (ii) actualisation du WACC et (iii) roll-over du DCF, nous relevons à 3,6€ notre objectif. Nous réitérons notre recommandation à NEUTRE.Spineway SA, formerly known as Spineway SAS is a France-based company involved in medical products manufacturing. It designs, produces and sells spinal column implants and surgical instruments. The group offers spinal systems, cervical and lumbar cages, cervical plates, bone substitutes, among others.
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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