FFP : Roadshow feedback, rosy outlook and high discount (-47%): Outperform rating and target price of € 121 unchanged
>Key takeaways from the conference call - Immediately after the publication of its FY 2020 results, FFP took part in a roadshow organised by ODDO BHF yesterday afternoon. Key takeaways:Regarding the investment in Faurecia (3.1% of the capital held by Peugeot 1810): FFP’s target is to remain a long-term shareholder in Faurecia. FFP does not necessarily intend to acquire a 5% Faurecia’s capital in order to benefit from the parent-subsidiary system for the dividends...Societe Fonciere, Financiere ACT is an investment holding company which acts as a long-term investor and an active shareholder. As of Dec 31 2010, Co. held 22.1% of the share capital of PSA Peugeot Citroen. Co. usually purchases minority stakes in companies with a large family shareholding. Co. has a portfolio of private equity funds which operate mainly in Europe and countries with emerging economies. Co. also operates a financial investment and cash management business, as well as a real estate and wine-producing businesses.
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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