Report
Jeremy Garnier ...
  • Jerôme Bodin
  • Olfa Taamallah
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 12/11/2019

Generix Group now has all the qualities of an SaaS specialist (visibility, revenue recurrence, growth, captive revenue and profitability) but these qualities remain, in our view, insufficiently valued by the market. Despite an outstanding performance in 2019 (+90% YTD), the stock is still trading at attractive multiples and the upside is still significant. We are initiating coverage with a Buy rating and target price of € 8.0. - Cf. equity report published last evening. - ...
Underlyings
Air France-KLM SA

Air France-KLM is a holding company. Through its subsidiaries, Co. is engaged in transporting passengers and cargo, aeronautics maintenance and other air-transport related activities, including catering and charter services. Co. operates in six geographical regions: Metropolitan France; Europe (except France) and North Africa; Caribbean, French Guiana and Indian Ocean; Africa, Middle East; Americas, Polynesia; and Asia and New Caledonia. Co. organizes its business around the following four segments: Passenger, providing passenger transportation services on scheduled flights; Cargo, transporting freight on flights and selling cargo capacity to third parties; Maintenance, and Other activities.

Casino Guichard-Perrachon SA

Casino Guichard-Perrachon is a food retailer based in France. Co. operates hypermarkets, supermarkets, discount stores, convenience stores and cafeterias. Co.'s stores are discount stores selling groceries and consumer goods, and providing services like financial and insurance services, real estate, and restaurants. Co. operates hypermarkets under the brand Geant Casino; urban and rural supermarkets under the brand Casino Supermarches; city-centre supermarkets under the brand Monoprix; convenience/national superettes under the brands Petit Casino, Vival and Spar; covenience-paris area stores under the brand Marche Franprix; and discount stores under the brand Leader Price.

HORNBACH Holding AG & Co. KGaA

Hornbach Holding is engaged in the development and operation of do-it-yourself (DIY) megastores with garden centers on an international basis. In addition, Co. and its subsidiaries are engaged in the construction materials and builders' merchant business. Co. operates within two segments: retail business and its real estate business. As of Feb. 28, 2014, Co. was operating a total of 49 DIY megastores with garden centers in eight countries outside Germany.

Rallye S.A.

Rallye is a holding company, operating within the specialized food distribution industry through its majority holdings in Casino and Groupe GO Sport. Co.'s main asset, Casino, represents 99% of its consolidated sales; and Groupe GO Sport specializes in retail sporting goods through its GO Sport and Courir brands. Co. also manages investment portfolios with financial assets (LBOs, real estate funds, energy, development capital), and real estate assets (shopping malls and residential developments). Co.'s activities are divided into three segments: food and general retailing (through Casino); sporting goods retailing (through Groupe Go Sport); and financial holdings and investments.

Solocal Group

Solocal Group SA is a France-based company, which is engaged in local online communication. The Company provides digital content, advertising solutions and transactional services that connect people with local businesses. Solocal Group SA operates in France, Spain, Austria and the United Kingdom and supports the online development of SMB and client accounts, mainly through its four flagship brands: PagesJaunes (engaged in local advertising and information on the Internet and in mobile and print media), Mappy (a portal of services relating to travel: maps, journey planners, local area information searches, before and during the journey), Ooreka (a database of content with practical guides, tutorials, among others, written by such specialists as notaries, lawyers, doctors, electricians and gardeners, among others.

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
Jeremy Garnier

Jerôme Bodin

Olfa Taamallah

Yan Derocles

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