Bollore : A good Q4, a solid 2021 and what of a new spin-off at the Odet/Bolloré level after that of Vivendi/UMG?
>Despite recent gains, the stock remains deeply discounted - We are revising up our target price on Bolloré to € 5.2 (vs € 3.8) following the distribution of 60% of UMG by Vivendi and we reiterate our Outperform recommendation based on two convictions: 1/ the operational outlook is positive for the transport & logistics division. The 2020 results (published on 4 March) should confirm a good end of the year in the transport commission and a rebound in port activity in...Bollore is a holding company. Through its subsidiaries, Co. conducts business in international logistics, transportation and logistics in Africa (port management, stevedoring, logistics), fuel distribution, batteries and supercapacitors, electric vehicles, plastic films for capacitors and packaging, dedicated terminals and systems, plantations, communicationa and the media (television and free press, advertising and market research) and the management of portfolio shareholdings. Co.'s activities can be divided into four segments: Transportation and logistics, Industry, Fuel distribution, and Other activities.
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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