Danone : A positive end to the year, but no guidance before the CMD
>Absence of guidance likely to limit favourable reception - Outperform rating maintained. Beyond the potential to improve operational discipline, we continue to identify significant potential for a re-rating on a group that needs to refocus each of its divisions on its core business. In the longer term, a redefinition of the strategic scope would be the culmination of a refocusing that could push the P/E above 20x vs nearly 15x.The robust momentum of Q4, even if ...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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