Danone : Encouraging inflection points in H1
>Key points that could allay concerns. Buy rating maintained - Buy recommendation and target price of €85 maintained. Danone’s H1 numbers once again highlighted the benefits of the rebalancing between growth (still very modest) and profitability. Although organic growth remains weak, we see a number of factors that could ease the market's scepticism. 1) excluding the boycott in Morocco (which is no excuse!), Q2 organic growth came to 4.3%. 2) 75% of WhiteWave's busine...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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