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But : An enhanced visibility. We are raising our recommendation to BUY. BUT – feedback conference call
BUT hold the conference call on its Q3 2020 results yesterday afternoon. The group has provided a substantial amount of reassuring information about its activity level since the reopening of stores on 11 May, and about its cash burn. At the occasion of our May 11th credit report ("The Day After"), we deliberately remained cautious (recommendation maintained at Neutral) despite the 9% yield offered by the Moblux 2024 bonds, as we were sorely lacking visibility on the recovery of t...
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Oddo BHF
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.
Anne-Barbara Nicco
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