Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Jerôme Bodin

Adevinta : T3 21 légèrement < aux attentes mais des cibles moyen long ...

>Publication au global très positive – Opinion Surperformance réitérée - Malgré un T3 un peu en dessous, la guidance moyen long terme ressort à un niveau très solide, entre 10% et 15% > à nos attentes au niveau de l’EBITDA. Nous répétons ainsi notre opinion Surperformance sur le titre. Après la baisse récente du titre (-24% depuis le point haut fin août), le nouvel ensemble se paye 22x l’EBITDA 2022e (après synergies), ce que nous considérons comme attractif pour la v...

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Jerôme Bodin

Adevinta : Q3 2021 a shade below expectations but medium-/long-term ta...

>Very positive publication overall, with medium- to long-term guidance between 10% and 15% > our expectations - Outperform opinion reiterated - Despite a Q3 a shade below, the medium- to long-term guidance is very solid, between 10% and 15% > our expectations for EBITDA. We are therefore reiterating our Outperform recommendation on the stock. After the recent decline in the share price (-24% since the high point at the end of August), the new entity is trading at 22x ...

Pierre Tegner
  • Pierre Tegner

Remy Cointreau : Current operating profit up +104% in H1 2021! Guidanc...

>A much stronger increase in current operating profit than expected - After publishing its H1 2021 sales (+52% l-f-l), Rémy Cointreau published this morning much stronger results than expected with growth of 104.5% l-f-l in current operating profit (at € 212.9m on a reported basis at € 217.2m l-f-l). Like the consensus, we expected an increase of +63% and +66% respectively after the positive surprise from sales in H1.The robust growth of +830bp in the current und...

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Jerôme Bodin

Adevinta : T3 21 légèrement < aux attentes mais des cibles moyen long ...

>Publication au global très positive – Opinion Surperformance réitérée - Malgré un T3 un peu en dessous, la guidance moyen long terme ressort à un niveau très solide, entre 10% et 15% > à nos attentes au niveau de l’EBITDA. Nous répétons ainsi notre opinion Surperformance sur le titre. Après la baisse récente du titre (-24% depuis le point haut fin août), le nouvel ensemble se paye 22x l’EBITDA 2022e (après synergies), ce que nous considérons comme attractif pour la v...

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Jerôme Bodin

Adevinta : Q3 2021 a shade below expectations but medium-/long-term ta...

>Very positive publication overall, with medium- to long-term guidance between 10% and 15% > our expectations - Outperform opinion reiterated - Despite a Q3 a shade below, the medium- to long-term guidance is very solid, between 10% and 15% > our expectations for EBITDA. We are therefore reiterating our Outperform recommendation on the stock. After the recent decline in the share price (-24% since the high point at the end of August), the new entity is trading at 22x ...

Pierre Tegner
  • Pierre Tegner

Remy Cointreau : Current operating profit up +104% in H1 2021! Guidanc...

>A much stronger increase in current operating profit than expected - After publishing its H1 2021 sales (+52% l-f-l), Rémy Cointreau published this morning much stronger results than expected with growth of 104.5% l-f-l in current operating profit (at € 212.9m on a reported basis at € 217.2m l-f-l). Like the consensus, we expected an increase of +63% and +66% respectively after the positive surprise from sales in H1.The robust growth of +830bp in the current und...

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Jerôme Bodin

Adevinta : T3 21 légèrement < aux attentes mais des cibles moyen long ...

>Publication au global très positive – Opinion Surperformance réitérée - Malgré un T3 un peu en dessous, la guidance moyen long terme ressort à un niveau très solide, entre 10% et 15% > à nos attentes au niveau de l’EBITDA. Nous répétons ainsi notre opinion Surperformance sur le titre. Après la baisse récente du titre (-24% depuis le point haut fin août), le nouvel ensemble se paye 22x l’EBITDA 2022e (après synergies), ce que nous considérons comme attractif pour la v...

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Jerôme Bodin

Adevinta : Q3 2021 a shade below expectations but medium-/long-term ta...

>Very positive publication overall, with medium- to long-term guidance between 10% and 15% > our expectations - Outperform opinion reiterated - Despite a Q3 a shade below, the medium- to long-term guidance is very solid, between 10% and 15% > our expectations for EBITDA. We are therefore reiterating our Outperform recommendation on the stock. After the recent decline in the share price (-24% since the high point at the end of August), the new entity is trading at 22x ...

Pierre Tegner
  • Pierre Tegner

Remy Cointreau : Current operating profit up +104% in H1 2021! Guidanc...

>A much stronger increase in current operating profit than expected - After publishing its H1 2021 sales (+52% l-f-l), Rémy Cointreau published this morning much stronger results than expected with growth of 104.5% l-f-l in current operating profit (at € 212.9m on a reported basis at € 217.2m l-f-l). Like the consensus, we expected an increase of +63% and +66% respectively after the positive surprise from sales in H1.The robust growth of +830bp in the current und...

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Jerôme Bodin

Adevinta : T3 21 légèrement < aux attentes mais des cibles moyen long ...

>Publication au global très positive – Opinion Surperformance réitérée - Malgré un T3 un peu en dessous, la guidance moyen long terme ressort à un niveau très solide, entre 10% et 15% > à nos attentes au niveau de l’EBITDA. Nous répétons ainsi notre opinion Surperformance sur le titre. Après la baisse récente du titre (-24% depuis le point haut fin août), le nouvel ensemble se paye 22x l’EBITDA 2022e (après synergies), ce que nous considérons comme attractif pour la v...

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Jerôme Bodin

Adevinta : Q3 2021 a shade below expectations but medium-/long-term ta...

>Very positive publication overall, with medium- to long-term guidance between 10% and 15% > our expectations - Outperform opinion reiterated - Despite a Q3 a shade below, the medium- to long-term guidance is very solid, between 10% and 15% > our expectations for EBITDA. We are therefore reiterating our Outperform recommendation on the stock. After the recent decline in the share price (-24% since the high point at the end of August), the new entity is trading at 22x ...

Pierre Tegner
  • Pierre Tegner

Remy Cointreau : Current operating profit up +104% in H1 2021! Guidanc...

>A much stronger increase in current operating profit than expected - After publishing its H1 2021 sales (+52% l-f-l), Rémy Cointreau published this morning much stronger results than expected with growth of 104.5% l-f-l in current operating profit (at € 212.9m on a reported basis at € 217.2m l-f-l). Like the consensus, we expected an increase of +63% and +66% respectively after the positive surprise from sales in H1.The robust growth of +830bp in the current und...

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