KBC Securities - Wessanen B.V. (WES) WESSANEN - KBC Securities Company Note 27.07.2018 - Dont write it off yet!

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KBC Securities

Alan Vandenberghe

WESSANEN - KBC Securities Company Note 27.07.2018 - Don't write it off yet!

We took a thorough look at the investment case following the weak 2Q18 results. While we lowered our estimates to reflect a more prudent view, we believe that the stock price reaction was too harsh. We upgrade to Buy and set our TP at â‚¬ 14.5 (from â‚¬ 16.0).

27/07/2018 16 EN

Underlying

Wessanen B.V.

Wessanen is a company in the European organic food market. Operating mainly in France, Benelux, the United Kingdom and Germany, Co. manages and develops its brands and products in the grocery and health food channels. Co. also produces and markets frozen snack products in the Benelux and fruits drinks and cocktail mixers in the United States. Co.'s continuing operations are presented in three segments: Wessanen Europe, Frozen Foods and American Beverage Corporation.

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NL0000395317 Netherlands

Provider

KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Alan Vandenberghe

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