Danone : Clearer management of Who, What and How
>Outperform rating maintained - Outperform rating maintained. Yesterday’s strong reaction (+4%) reflects the potential increase in the consensus 2023 EPS forecast, which we estimate at nearly 3%, plus a slight rerating reflecting a clearer and more assertive message from management on the group’s repositioning. The stock therefore continues to trade on a 2023e PER < 15x, the lowest level of the hybrids (strategically dispersed and unbalanced operational footprint), wh...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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