Report
Bruno Cavalier ...
  • Fatma Agnès Hamdani
  • Pierre Tegner

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 01/14/2019

From our discussions with over 180 companies, we noted a reasonably positive tone, but the view of the cycle is considerably less optimistic than a year ago, as in one notch lower: the sense of acceleration or improvement in momentum seen a year ago is no longer there. 1/ A number of sectors have seen a slowdown in volumes without signalling this as a catastrophe: in industrial services (such as transportation and TT), automotive equipment suppliers, electronics and other segments whe...
Underlyings
Anheuser-Busch InBev SA/NV

Anheuser-Busch Inbev is engaged in the brewing of beer. Co. manages a portfolio of well over 200 brands that includes brands such as Budweiser, Stella Artois and Beck's; multi-country brands such as Leffe and Hoegaarden; and other brands such as Bud Light, Skol, Brahma, Quilmes, Michelob, Harbin, Sedrin, Klinskoye, Sibirskaya Korona, Chernigivske and Jupiler. Co. also produces and distributes soft drinks, particularly in Latin America. Co.'s operations are organized along seven business segments: North America, Mexico, Latin America North, Latin America South, Europe, Asia Pacific and Global Export & Holding Companies.

Chocoladefabriken Lindt & Spruengli AG

Chocoladefabriken Lindt & Sprungli is a holding company based in Switzerland. Co. and its subsidiaries manufacture and sell premium chocolate products. Co.'s products are sold under the brand names: Lindt, Ghirardelli, Caffarel, Hofbauer and Kufferle. Worldwide, Co. maintains eight manufacturing plants (six in Europe and two in the United States) and sells mainly in countries within Europe and the NAFTA countries.

Fraport AG

Fraport AG Frankfurt Airport Services Worldwide is an airport operator. Co. is divided into four segments: aviation, which includes airside and terminal management as well as corporate safety and security at the Frankfurt site; retail and real estate, which consists of retailing activities, parking facility and real estate management at Frankfurt Airport; ground handling, which comprises services dealing with passengers, aircraft and cargo; and external activities and services, which comprises Co.'s companies outside the Frankfurt site and auxiliary services in Frankfurt, including information technology and facility management in particular.

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
Bruno Cavalier

Fatma Agnès Hamdani

Pierre Tegner

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