Dufry AG : A more constructive tone on the recovery - Neutral, target raised to CHF 66
>Full-year results: some good and some not so good - Looking at Dufry's FY results, we note a slightly weaker-than-expected operating performance, the difference stemming mainly from larger-than-forecast asset impairments (close to CHF 1.2bn on the year), which largely undermined net income. These one-offs are also likely to continue in 2021, albeit to a lesser extent, given the weak business trends. In contrast, on a positive note, we were impressed by Dufry’s cost ...Dufry is a travel retail company. Co. operates over 1,650 shops worldwide. Co.'s shops are either duty free or duty paid shops, located in airports. Co.'s product categories include: Perfumes and Cosmetics; Confectionery, Food and Catering; Wine and Spirits; Watches, Jewelry and Accessories; Tobacco goods; Fashion, Leather and Baggage; Literature and Publications; Electronics; and Toys, Souvenirs and other goods.
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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