Une acquisition majeure, mais pas la structuration espérée - NEUTRE - OBJECTIF : 21€
Lors de la publication d’un CA T3 légèrement supérieur aux attentes, le groupe annonce son rapprochement avec Equens. L’opération présente un intérêt stratégique et devrait dégager d’importantes synergies (40m€ en 2018), mais sa structuration limite l’impact relutif CT et renvoie à la sortie des actionnaires pour calibrer la création de valeur. Dans l’attente de précisions, nous réitérons notre opinion à NEUTRE et notre objectif à 21€.
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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