Beiersdorf : Un reset de marges difficile à justifier
>Recommandation abaissée à Alléger - Nous dégradons notre recommandation de Neutre à Alléger. Depuis le départ de l’ancien CEO, nous étions dans l’expectative vis à vis de la stratégie du nouveau top management et nous penchions en faveur d’une acquisition qui aurait eu pour mérite de diversifier le profil de risque comme le profil de croissance du groupe tout en restant positionné sur son core business: le skin care. L’annonce hier soir de la stratégie du nouvea...Beiersdorf manufactures and distributes consumer goods. Co. operates in two business segments: consumer, which is Co.'s main business that focuses on the skin and body care markets, with products including NIVEA's Deodorant Invisible for Black & White, NIVEA Deodorant Stress Protect, NIVEA In-Shower Body Lotion, NIVEA Cellular Anti-Age face care, and Eucerin's VOLUME-FILLER; and tesa, which develops, produces, and markets self-adhesive products and system solutions for industry, craft businesses, and consumers. In the electrical industry, the tesa business segment's adhesive systems are used in mobile devices such as smartphones, tablet personal computers, and MP3 players.
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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