Danone : Departure of the CEO for essential dairy and plant-based international (EDP International): bad timing
>Too many battles? Reduce rating maintained - Reduce recommendation maintained with a target price of € 57. Downside seems limited in the very short term in view of the 2021e P/E of 14x and the stock performance YTD (-23%), compared to European food HPC peers that are almost at breakeven. However, visibility on H2, and particularly on 2021, has sharply deteriorated. There is therefore still a high risk of a nasty surprise, and the announcement of the departure of the...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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