Danone : H1 2019: Q2 organic growth (2.5%), margin (+42bp) and EPS (+6.3%) beat
>Buy recommendation maintained - In the very short term, the share price should react positively to the H1 results which beat consensus on organic growth, operating margin improvement, and diluted underlying EPS growth.The higher volumes that some were expecting did not materialise yet in Q2. But the group is not far from a turning point with the EDP division at -1%. In our view, the more than 20% discount is attractive. We maintain our Buy recommendation w...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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