Lagardere : A very good H1 2024 for both publishing and travel retail
>Neutral recommendation reiterated - Yesterday, Lagardère published interim results that came in well above our forecasts (EBIT of € 212m vs our forecast of € 170m). The main difference stemmed from Lagardère Publishing which posted a very solid performance in the US and the UK in Q2. Our forecasts have been revised up on the strength of this publication. We maintain our Neutral rating with a target price raised to € 25.5 (vs € 25). We think that the valuation is rea...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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