Suez : Confident message at road show in Brussels
>Buy recommendation and target price of € 15.6 maintained - Following a one-day road show with the investor relations team in Brussels, we maintain our target price of € 15.60, based on an average of a DCF (€ 13.43, with a WACC at 4.40% and a perpetual growth rate unchanged at 1.80%) and a SOP (€ 17.70). At the current price, 2018 valuation multiples are generally below the historical average (EV/EBITDA 5.6x and EV/EBIT 12.2x). Besides the steps already taken to resto...
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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