Fluidra : A longer path to normalised growth: downgrading to Neutral
>Downgrading recommendation to Neutral - We are cutting our recommendation on Fluidra from Outperform to Neutral following the strength of the share price during 2023 (+35% y-t-d) and our concerns regarding the pace of recovery at the new build activity (c.-30% y-t-d, c.30% of total revenues). We do not expect a significant recovery in new build activity in 2024 and we have adapted our estimates to a slower recovery in the construction of new pools, while continuing t...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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