Oddo BHF - Oddo convertible news 03/01/2020

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Oddo BHF

Oddo convertible news 03/01/2020

Cellnex will acquire from Altice Europe the Portuguese towerco OMTEL for EUR 800m>...

03/01/2020 5 EN

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Oddo BHF

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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Other Reports from Oddo BHF

Emira Sagaama ... (+2)

Emira Sagaama
Robert Jan Vos

Carlsberg : A beer with a twist - Coverage initiated at Outperform and DKK 985 TP

We initiate coverage on Carlsberg with an Outperform recommendation and a DKK 985 TP, valuing the brewer at 12-month EV/EBITDA of 10.7x, EV/EBIT of 14.7x, and P/E of 15.8x. All three European listed brewers in our coverage universe have an attractive valuation. However, we prefer Carlsberg because of its geographical exposure – with a focus on less volatile Europe and Asia – and because of its 30% soft drink exposure, which we conclude is synergistic to beer, adds to growth, and is less debated by investors if they move away from alcoholic beverages.

3h / 19m 3h / 19m 1 EN

Mateo Salcedo

Mateo Salcedo

Lufthansa : Improvement in profitability expected but CMD targets seem optimistic

Lufthansa held its capital market day back in September, revealing its 2028-30 objectives. Through turnaround programs at its key brand, cost saving initiatives driven by the modernization of the fleet, investments in digital innovation, on top of the overall market growth, the group is targeting a significant improvement in profitability, with EBIT margins set at 8-10% by 2028-30, compared to 4.4% in FY 2024. While we do expect an improvement in the company’s overall profitability, the European airline industry remains challenging from a cost perspective amid tougher regulations, high disrupt...

3h / 19m 3h / 19m 1 EN

Mateo Salcedo

Mateo Salcedo

Lufthansa : Improvement in profitability expected but CMD targets seem optimistic

3h / 25m 3h / 25m 1 FR

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Oddo convertible news 03/01/2020

Carlsberg : A beer with a twist - Coverage initiated at Outperform and DKK 985 TP

Lufthansa : Improvement in profitability expected but CMD targets seem optimistic

Lufthansa : Improvement in profitability expected but CMD targets seem optimistic

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