Eurogerm : Neutral rating maintained pending the outcome of the change of control at the company
>Target price increased to € 43 vs € 32 - We increase our target price based on fundamentals from € 32 to € 43 after the update to our DCF model. The recalculated cost of capital of 6% (vs 7.6%) takes into account a lower risk premium of 7.8% and a risk-free rate of 0.18%. Note that a change of control is underway concerning Eurogerm’s capital. The company announced on 15 January that Jean-Philippe Girard (CEO), his personal holding company ACG and Unigrains had ente...Eurogerm SA is a France-based company specializing in manufacture and marketing of flour correctors, bread-making improvers, technological aids and nutritional cereal ingredients. It offers a range of enzymatic preparations, technical glutens adapted to bakery applications, mix and premixes for gluten free products, ingredients with omega-3 fatty acids, mix and premixes intended to reduce the salt intake of bread-making products and others, as well as related services. The Company has two production sites, Saint Apollinaire and Quetigny in France. The Company has such subsidiaries as Eurogerm Leag, Eurogerm Maroc, Problend-Eurogerm, Eurogerm Andina and Eurogerm Mexico, engaged in production and commercialization activities and Processus Alimentos Industria e Comercio LTDA EPP in Brazil, among others. The Company operates in countries like France, The United States, Algeria and Brazil, among others.
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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