Danone : T1 2022 à +7.1% en lfl avec des volumes à +2.2% grâce à la Nutrition spécialisée et au meilleur redressement du Waters
>Un T1 qui devrait être bien accueilli - Surperformance maintenue. Sur le LT nous continuons de penser qu’un recentrage stratégique est crédible et serait un facteur de rerating alors que le titre affiche un PE de 14.4x sur 2023e. A court terme, la bonne surprise sur la croissance organique du T1 et notamment sur la performance de la division Spec Nutrition devrait être bien accueillie. Une hirondelle ne fait pas le printemps. Mais ce début d’année est rassurant alors...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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