Lagardere : Q4 2020 looks set to be tough, no negotiations on the limited share partnership
>Reduce rating reiterated - Yesterday, Lagardère held a conference call on its Q3 performance. The group stated that it was not in talks for asset disposals or the end of the limited share partnership. This announcement followed an article by French news outlet BFMTV that mentioned such negotiations with Vivendi. We have lowered our 2020-2021e results forecasts due to a more cautious Q4 outlook. We reiterate our Reduce rating on the stock with an unchanged target pric...Lagardere Groupe is a holding company. Through its subsidiaries, Co. is engaged in the media industry (news, education, culture and entertainment businesses). Co.'s main activities in the media industry can be divided into four separate divisions. Lagardere Publishing includes Co.'s Book Publishing and e-Publishing businesses. Lagardere Active encompasses Co.'s Magazine Publishing, Audiovisual (Radio, Television, Audiovisual Production), Digital and Advertising Sales Brokerage businesses. Lagardere Services encompasses the Travel Retail and Distribution businesses. Lagardere Unlimited specializes in sports and entertainment.
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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