Report
Codere : Lost confidence?
We initiated a 'Reduce' recommendation in December 2018 as we fretted about a possible deterioration of Argentina and a still subdued cash flow ahead of the looming 2021 bond maturity. As results and cash flow showed a material improvement driven by good momentum in Mexico and a stabilisation in Argentina, we changed our recommendation to 'Buy' in June. However, the situation brutally worsened in Argentina over the summer and the good results published earlier this year turned ou...
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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.
Maxime Kogge
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