Danone : Besides the momentum effects, the results will have to show signs of a strategic and operational refocusing
>Outperform rating maintained: we continue to believe in a re-rating - Outperform rating maintained (target price: € 64). Before tomorrow’s earnings release, we continue to believe in a re-rating. The share’s recent rally has lifted the P/E 2023e to close to 15x. The share is still the cheapest of the hybrids (strategic dispersion and lopsided operating footprint) while we think that a refocusing (operational and strategic) remains a credible scenario. Amid ongoing po...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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