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Aldesa : Me against the world
Since we raised our recommendation to 'Buy' from 'Speculative Buy' on 16 January, the € 250m bond has lost 9.5 pts to trade at 86.5% currently. Meanwhile, the company's operating performance was decent but cash generation remained underwhelming. The bond's decline was mostly linked to a failed refinancing attempt in May and an overall dreadful environment for construction issuers. During the same period, Salini Impregilo and OHL performed even worse (-11.5 pts for IGPIM 2024 and ...
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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.
Maxime Kogge
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