Danone : A paradoxical Q3: 1.2% organic growth but a further improvement in the underlying
>Buy rating maintained. Further encouraging signals - On the eve of the publication of Q3 sales (tomorrow morning at 7.30 a.m.), we reiterate our Buy recommendation (target price: € 85). What are the encouraging signals we are expecting on the upturn in growth? The stock’s discount (-21% in terms of 2018e PER and -13% on a 2018e EV/EBITDA) relative to European Food HPC peers remains a support but is still not a lever for the share price performance (-8% in YTD). We c...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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