Maisons du Monde : Recommandation abaissée d’Achat à Neutre sur les OCEANES après la belle performance des quinze derniers mois
Nous revenons, dans cet update, sur les récentes performances opérationnelles et financières du groupe ainsi que sur les perspectives du S2, notamment à la lumière de son exposition importante aux approvisionnements en Asie. Si la dégradation de l’environnement nous semble être gérable pour le crédit, la très belle performance des OCEANES depuis 15 mois a ramené leur rendement vers un niveau désormais peu attractif (1% vs. 8% il y a 15 mois). Nous abaissons notre recommandation d...Maisons du Monde offers a range of decoration and furnishing items in a variety of styles and themes. At end-2016, Co. operated a network of 288 stores in seven countries, France, Italy, Spain, Belgium, Luxembourg, Germany, and Switzerland. It also operates an e-commerce platform available in 11 countries. Co.'s product offering contains approximately 16,000 stock-keeping units available in a range of prices. The offer falls into two categories: decorative products, such as household textiles, tableware and kitchenware, mirrors and picture; and furniture, such as beds, tables, chairs, armchairs and sofas, cupboards, bookshelves, junior furniture and outdoor furniture.
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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