Beiersdorf : Un autre très bon trimestre et un nouveau relèvement de guidance. Mais c’est désormais bien intégré
>Probable réaction négative malgré ce très bon trimestre - Neutre maintenu avec un OC relevé à 105 € (vs 90 € ante) en raison du glissement de notre DCF et de perspectives de long terme plus soutenable au regard de la réitération du redressement de la croissance organique du Consumer qui se confirme trimestre après trimestre. A notre OC, le PE 24e ressort implicitement à 26x (20x hors cash), ce qui nous semble raisonnable dans ce contexte de ré-échelonnage vers les ba...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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