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AUTO1 : Uncertainties in the short term and confirmation of disappointing operating leverage – Underperform rating maintained, target price of € 12 (vs € 14)
>Underperform rating maintained, target price of € 12 (vs € 14) - While yesterday’s sell-off (-12%) looks fairly severe given what was a reasonably solid Q4, it is above all the result, in our view, of: 1/ significant uncertainty in the short term (impact of the war in Ukraine on consumer confidence and of Omicron on the supply chain); 2/ the 2022 guidance being more price driven than was expected by the consensus, plus earnings volatility (rapidly shifting supply-dem...
Underlying
AUTO1 Group
Provider
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.
Martin Marandon-Carlhian
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