IDI : NAV up 8.1% in 2019 – continuing investments in Q1 2020 – target price raised to € 39 – Buy vs Neutral given the upside
>2019 NAV up 8.1% at € 64.82 per share – upturn in investments in 2019 - IDI this morning reported its NAV at end-December 2019, which came in 8.1% higher at € 64.82 per share, after +15.5% in 2018 and +47% in 2017. A key point to highlight, following a company contact, is that this performance is mainly driven by an increase in the value of the Private Equity Europe portfolio and a good performance from liquid assets. Shareholders’ equity rose by 4.5% to € 501.4...Groupe IDI activity is divided in two areas: through its subsidiaries, EURIDI and Marco Polo Investissements, Co. is engaged in management buy-out/buy-in and growth capital investments in French small-mid caps valued between Euro7,000,000 and Euro75,000,000 also, through its subsidiary, IDI Mezzanine, is engaged in mezzanine financing. Also Co. is active in the purchase of secondary market portfolio.
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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