Fnac Darty : We are raising our recommendation in light of the reassuring H1
Fnac Darty has reported reassuring H1 2020 results at all levels, even if the mid-June trading update had strengthened visibility on the strong post-lockdown sales recovery. As the financial situation was tightly controlled during this critical period, and although H2 remains uncertain at the macroeconomic level, the trajectory of credit metrics in 2020 should be less unfavourable than expected a few weeks ago. We also expect S&P to confirm the BB rating (currently on watch negat...Fnac Darty is engaged in the leisure and entertainment, technology, and household appliances retail market in France and a player on markets in other countries where it operates such as Spain, Portugal, Belgium, the Netherlands and Switzerland. Fnac Darty also has franchise operations in Morocco, Qatar and Ivory Coast.
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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