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But : Recommendation raised to Buy after recent weakness
The Moblux 4.25% 2028 bond has lost five points since the end of September. While the high-yield segment has been weak overall, with a flight from long paper and, in this sector, the profit warning by Maisons du Monde on 9 October, Moblux paper has nonetheless significantly underperformed: its spread has widened by +150bp (to z+550bp) vs +55bp for the JPM B index. Today, the bond offers a yield-to-maturity of 8.9% (ask), in line with the average for 5-year paper rated between B a...
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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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