Report
Christophe-Raphaël Ganet

Bastide : Sortir de la convalescence et retrouver des marges de manœuvre

Le cours de Bourse a fortement baissé depuis que l’endettement est considéré par le consensus comme trop élevé et limitant. A présent, engagé dans un processus de désendettement avec des cessions, synonymes de réduction du levier, Bastide devrait entrer dans une phase positive caractérisée par une très saine dynamique de croissance sur les Services, relayée par des effets de mix permettant d’anticiper des hausses de marge. Opinion relevée à Surperformance avec un OC porté à 27 € (vs 25,5 € auparavant).
Underlying
Bastide Le Confort Medical SA

Bastide le Confort Medical is a holding company. Through its subsidiaries, Co. is engaged in the home health care industry. Co. retails and rents medical equipment and provides medical services. Products include breathing apparatus, orthopedic shoes, walking aids and wheelchairs, home appliances and furniture adapted to the needs of the lesser able, with the recent addition of equipment related to perfusion and nutrition. Co. operates through a number of outlets concentrated mainly in the South of France, offering advice and information to customers along with the provision and maintenance of medical equipment.

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
Christophe-Raphaël Ganet

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