Lagardère : Le momentum opérationnel reste difficile en TR et le stratégique incertain - Alléger vs Neutre
>Un momentum toujours difficile adoption d’une recommandation Alléger - Les tendances constatées sur la fin du T2 se poursuivent selon nous. La reprise est solide chez Lagardère Publishing mais la situation reste très difficile chez Lagardère Travel Retail. Malgré un petit rebond pendant l’été, le trafic aérien en Europe et aux USA reste très déprimé. Nos attentes sont révisées en baisse pour le groupe en 2020 en 2021 sous l’effet d’une prévision plus prudente pour La...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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