Jeu gagnant? - NEUTRE - OC 17,9€
Les résultats 2015 sont en ligne avec nos prévisions et les attentes du marché. Les deux événements importants de cette publication sont l’annonce de la signature d’un accord de distribution avec beIN Sports afin que l’offre de valeur de Canal+ redevienne attractive et le dépôt d’une OPA sur Gameloft en ligne avec la stratégie de Vivendi d’être un groupe industriel intégré dans les médias proposant une offre de contenus différenciante. Nous abaissons légèrement nos prévisions 2016 et 2017 pour intégrer de moins bons chiffres pour Canal+ et maintenons notre opinion NEUTRE avec un objectif de 17,9€ inchangé basé sur une SOP.Vivendi is an audiovisual group active in the entertainment industry with activities in music, TV, cinema, mobile, fixed and internet, and games. Co.'s operations are divided into five businesses: Canal+ Group which produces and distributes pay-TV in France, analog or digital, and is involved in film making; Universal Music Group which sells recorded music (physical and digital media); GVT which serves as a telecommunication operator for fixed ultra high-speed broadband, fixed-line telecommunications and Pay-TV in Brazil; SFR which is engaged in mobile phone services in France, as well as fixed and ADSL services; and Other Activities which involves ticketing, Wengo and Watchever.
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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