Beiersdorf : CA T1 2021: Nivéa à +0.5%, redressement de La Prairie et maintien de la dynamique de la dermocosmétique
>Recommandation relevée à Neutre - Comme explicité dans notre flash de ce matin, nous avons relevé notre recommandation de Sous-performance à Neutre suite à l’annonce du depart du CEO et son remplacement par Vincent Warnery. Le VE/EBITDA 2022e de 12x et l’espoir relativement crédible d’une inflexion stratégique limitent, selon nous, le potentiel de baisse du titre. A très court terme, le CA du T1 qui avait été pré annoncé offre peu de surprise et confirme le bon ...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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