Danone : T1 attendu très faible à 0.8%
>Achat maintenu - Un trimestre ne fait pas un investment case. Mais dans la perspective d’un T1 qui sera extrêmement faible, nous tenons à réitérer notre opinion positive sur le titre. La décote n’a pas bougé malgré la performance du titre en YTD. Elle reste de 22% en PE 12mfwd par rapport aux large caps européennes du food Beverage HPC. Le marché reproche essentiellement le déficit de croissance organique. Mais c’est justement la discipline du management ainsi que la...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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