Fluidra : 2022 guidance dispels demand pulled-forward concerns
>Upgrade to Outperform, new target price of € 34.3 - We are upgrading our recommendation on Fluidra to Outperform (from Underperform) and set our new target price at € 34.3 (-2% from previous € 35.0) following strong results (in line with estimates) and, more importantly, positive guidance for 2022. Strong operating leverage on top of outstanding organic growth - Fluidra’s results were strong (adjusted EBITDA of € 549m, +71% y-o-y) with an EBITDA marg...Fluidra is engaged in the manufacture and commercialization of accessories and specific products for swimming pools, irrigation, and water treatment and purification systems.
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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