Forfarmers : ‘Unfortunate’ German pricing should be phased out by 2H21
>Unfavourable German margins should recover by 2H21 - After the company’s 1Q21 trading update, FFARM’s share price dropped by 6%, clearly showing a certain degree of shareholder frustration after another quarter accompanied by a negative surprise. Although we are cautious on FFARM in the near term (explaining our Neutral recommendation), we argue that this drop was rather steep given the temporary nature of most of FFARM’s latest headwinds (including COVID). The compa...ForFarmers NV is an agricultural feed company based in the Netherlands that offers feed solutions for conventional and organic livestock farming. Its product portfolio comprises, among others, products for crop farming and pasture farming, as well as feed for the ruminant, swine, poultry and equine sectors, including compound feed and blends, feed for young animals and specialties, raw materials and co-products to seed and fertilizers. Its core activities are feed production, logistics and the provision of total feed solutions. The Company operates through the segments The Netherlands, Germany/Belgium and the United Kingdom, and operates approximately 40 production facilities in these countries.
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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