ODDO BHF Small & MIDCAP MORNING NEWS - 06/04/2019
We are upgrading our recommendation from Neutral to Buy and are maintaining our target price of € 27.5. With the fall in the share price recently (-10% over the past month), we think that the current valuation fails to reflect the ongoing transformation plan (refocus on publishing and on travel retail). We expect this movement to see a sharp increase in FCF (+34%), thus driving up the dividend and yield. If our FCF scenario materialises, the 2020e FCF yield would work out at 9.5%. - ...EXEL Industries designs and manufactures precision spraying equipment that it markets to three markets: farming, industry and consumers. Co. organizes its operations into two divisions: Plant Protection (manufactures professional, semi-professional and consumer agricultural spraying equipment for plant protection; plant health products sprayed include herbicides, insecticides, fungicides, liquid fertilizers and other products) and Material Protection (supply of material protection products in two different areas: paint and viscous industrial product application equipment; and elimination of dust and odors).
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.