Navya : Sales warning - Buy recommendation maintained, revised target price of € 6.5 vs € 10.6
>Several shuttle fleet projects postponed - - This morning, Navya flagged a sales warning for FY 2018. The sales guidance was initially for € 30m but reduced to a range of between € 17m and € 19m (i.e. +65-85% y-o-y).The group spoke about the postponement of several fleet projects (over 5 driverless shuttles) which will not materialise before H1 2019. In addition, experiments in the US have been delayed since the required authorisation has not yet been delivered. ...Navya SAS is a France-based company specialized in the conception of electric autonomous systems. The Company manufactures autonomous vehicles. The Group offers two vehicles: the Autonom Shuttle, an autonomous, driverless and electric vehicle that is capable of transporting over 14 people, which serves cities and private sites. The technical design of the Autonom Shuttle allows the shuttle to understand the surroundings in which it is located, detect obstacles and anticipate movement, and the Autonom Cab, which is a self-driving taxi, which is capable to carry one to six passengers. Users can order Autonom Cab, open and close the vehicle's door, start its motor, obtain tourist information or finishing ordering tickets for a show through a smartphone application. In addition, the Group provides a number of services to its customers, including the control of data, software updates and the maintenance of its autonomous vehicles. Apart from France, Navya also operates in the United State.
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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