Report
Michael Foundoukidis

Continental : An attractive story, even beyond the strategic review

>Fundamentals-based conviction - Following our change of equity analyst, we pick up our Buy rating with a €250 target based on a SOP. Continental offers substantial potential on the fundamental level with it now looking cheap (EV/EBITDA 18e of 6.3x, PE 18e 11.9x) faced with expected earnings growth (EPS up 10% per year over the next 3 years). However, in the near term, investors are likely to focus on talks on the group’s structure which are likely to bear fruit in th...
Underlying
Intercontinental International

Intercontinental International Real Estate Investment Company Sa. Intercontinental International Real Estate Investment Company SA is a Greece-based company, which invest in and manages real estate properties. The Company's portfolio includes: over 10 commercial properties (bank branches) of Alpha Bank SA, formerly Alpha Credit Bank SA; an office and shop building in Neos Cosmos; a retail store/supermarket situated on the ground storey; an independent commercial building, which includes offices and retail stores; an apartment property, as well as more than three retail and service spaces. Its properties are located mainly in Athens as well as Thessaloniki, Crete, Volos, Corfu and Zakynthos. The Company's main lessees are Alpha Bank (long-term lease contract), the Social Security Organization (IKA) - Unified Insurance Fund for Employees (ETAM), I & S Sklavenitis SA and Elta Courier SA.

Provider
Oddo BHF
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.

Analysts
Michael Foundoukidis

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