Oddo BHF - Oddo convertible news 23/02/2017

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Oddo BHF

Oddo convertible news 23/02/2017

CGG will repay at par its 2017 straight bonds (in line with our previous comments)Kinnevik sold a 6.6% stake in Rocket Internet at a -10% discount vs last closing price>

23/02/2017 12 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

Louis Boujard ... (+3)

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Fortum : Are we nearing the end of the low-price paradigm in Nordics?

The Nordic electricity system is entering a phase of lasting change: demand is growing structurally (electrification, data centres), while controllable supply is stagnating, and variable renewables are dominating growth. Based on the analysis developed in this note, these changes are set to drive long-term price growth that is not yet reflected in the consensus. This shift could be addressed at the CMD on 25 November. Fortum, with its low-carbon mix (hydro + nuclear), deleveraged balance sheet and high price sensitivity (˜ +4% EPS per € 1/MWh), looks particularly well positioned to benefit fro...

2h / 3m 2h / 3m 1 EN

Louis Boujard ... (+3)

Louis Boujard
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Fortum : Vers la fin du « low price paradigm »

Le système électrique nordique entre dans une phase de mutation durable : la demande progresse structurellement (électrification, datacenters) tandis que l’offre pilotable stagne et que les renouvelables variables dominent la croissance. Selon l’analyse développée dans cette étude, ces changements conduiront à une hausse LT des prix non encore intégrée par le consensus. Cette évolution pourrait être abordée lors du CMD du 25/11 prochain. Fortum, doté d’un mix bas-carbone (hydro + nucléaire), d’un bilan désendetté et d’une sensibilité élevée aux prix de marché (˜ +4 % de BPA par +1 €/MWh), nous...

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Roy Külter ... (+2)

Roy Külter
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Unite Group : The Unite Group : Housing the future, available at a bargain

Unite Group is the UK’s PBSA leader with scale, prime locations, and strong university ties driving sustained growth. Its shares trade at a deep discount to historical valuation, despite embedded rental growth and margin recovery. We see a compelling entry point with 23% upside to our 700p target price.

2h / 9m 2h / 9m 1 EN

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Oddo convertible news 23/02/2017

Fortum : Are we nearing the end of the low-price paradigm in Nordics?

Fortum : Vers la fin du « low price paradigm »

Unite Group : The Unite Group : Housing the future, available at a bargain

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