Danone : Guidance de marge sans grande surprise. La rotation de portefeuille reste l’élément clé.
>Stratégiquement concentré, opérationnellement diversifié : la clé d’un rerating - Surperformance maintenue. Nous continuons de penser que le titre offre un potentiel de rerating important. Un redéploiement opérationnel combiné à un recentrage de chaque division sont des facteurs clés de succès dans les consumer staples et donc de rerating. Le PER 23e de 13x et le VE/EBITDA23e de 8x reflète selon nous ce manque de densité de l’empreinte opérationnelle, parce que le gr...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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