Beiersdorf : CFO's departure: a challenge to CARE's targets or a signal for M&A in North America?
>Reduce recommendation maintained: too concentrated operationally - Reduce recommendation maintained. We continue to believe that the stock should underperform its European Food HPC peers (-13% YTD of which -7% over three months in absolute terms). Beiersdorf has attractive assets in the personal care segment (Nivea, La Prairie). But beyond its hybrid strategic positioning (Tesa), the lack of diversification of its brand (Nivea: ~ 80% of consumer sales) and its geogra...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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