Danone : € 2bn over 2020e-2022e: the cost of the right to operate
>Reduce recommendation maintained with a target price adjusted to € 65 - We remain on Reduce and are lowering our target price to € 65 after the downward revision to our 2020-2025 forecasts. After the detailed analysis of earnings and especially the climate plan announced, we think that the stock will probably continue to underperform. The share price performance over the last five sessions (in line with sx3p) suggests that the market: 1/ considered this plan “to acc...Danone is engaged in activities in the global food and beverages industry. Co. operates in four markets: Fresh Dairy Products (Co. produces and sells yogurts, fermented dairy products and other fresh dairy products); Waters (Co. produces and sells natural waters as well as flavored and vitamin-enriched waters products); Early Life Nutrition (Co. produces baby formula, milk-and fruit-based desserts, cereals, small pots of baby food and ready-made baby food); and Medical Nutrition (Co. develops adult and pediatric clinical nutrition products to be taken orally, or through a catheter in the event of malnutrition related to illness or other causes).
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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