Report
Pierre Tegner

Danone : Full renewal of the board: a first step with the arrival of Valérie Chapoulaud- Floquet

>Outperform maintained - The weakness of the share price has pushed the P/E 2022e to under 15x, the EV/EBITDA 2022e to <10x and the dividend yield to 3.8%. Some will argue that the multiples remain a relatively fragile support given that investors are taking a wait-and-see stance on the financial targets that will stem from the new CEO’s strategy and which will be presented in February and, at the latest, at the CMD on 6 March. We believe that this share price w...
Underlying
Danone SA

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).

Provider
Oddo BHF
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.

Analysts
Pierre Tegner

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