Danone : Q3 2021 should confirm the return to growth in all divisions. Inflationary pressure intensifies but operating margin guidance unchanged
>Outperform rating maintained - Outperform rating maintained with a target price of € 71. The inflationary context and the comparison bases that are beginning to normalise create a context that is a little more uncertain for the food HPC sector, particularly food. With the arrival of the new CEO (15 September) and the full renewal of the board by April 2023 (apart from G. Schnepp and the two employee representatives), we still think that Danone is gradually embarking...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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