Recommendation lowered to Neutral from Buy on the convertible bonds following strong performance over the last 15 months
In this update, we review the group's recent operating and financial performance as well as the outlook for H2, particularly in light of its significant exposure to Asian supplies. While the deteriorating environment seems manageable in terms of credit risk, the solid performance of the OCEANES over the past 15 months has brought their yield down to a fairly unattractive level (1% ask vs. 8% 15 months ago), prompting us to lower our Buy recommendation to Neutral. - >After ...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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