CF Alba : Long tradition of value creation
CF Alba, the March family holding company, invests in listed and unlisted companies where it identifies strong potential, regardless of the investment horizon. Since 1993, it has achieved a total annualized shareholder return of +11%, beating the EuroStoxx index by 3pp. The company currently trades at a c.50% discount to its NAV which is close to its historical maximum. We initiate coverage with an Outperform rating and a target price of € 68, representing a discount to its NAV ...Corporacion Financiera Alba is a holding company. Through its subsidiaries, Co. is engaged in the construction, development and acquisition of real estate for lease or sale, stock investments, and insurances. Through its affiliated companies, Co. is engaged in audiovisual production services, advertising, media buying and selling, private and satellite television, internet, mobile telephone services, film distribution and cinema exhibition, construction services, infrastructure concessions, lighting and traffic control services, banking and financial services, over-the-road passenger transport services, senior citizens residential and day care services.
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.
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