Korian : Recommendation raised to Buy on ODIRNANE bond
We are updating our recommendation on the ODIRNANE bond following the Korian credit roadshow that we organized at Oddo BHF HQ in Paris. - Since our initiation of coverage on June 19, the Korian share price has risen by +12% (from EUR 35.26 to EUR 39.40), while the ODIRNANE price has increased by only +4% (ask price: from EUR 45.75 to EUR 47.75), which represents a bit more than one third of the share's performance, while the convertible delta was around 50% in June. - Given this el...Korian is an actor on the temporary and permanent dependency care market in France, Germany and Italy. Co. offers and develops services related to dependency through its retirement homes (116 as of Dec 31 2009), follow-up care and rehabilitation facilities (35 as of Dec 31 2009) and psychiatric clinics (11 as of Dec 31 2009). Co.'s operations can be divided into four geographical segments: Medical and Social activity in France (retirement homes); Sanitary activity in France (follow-up care, rehabilitation, psychiatry and home medical care); Italy; and Germany.
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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