Quadient : Feedback from road show: a strategy to return to growth over the long term, target price adjusted to € 14 from €16
>A convincing strategy but the try needs to be converted - During a road show, management (CEO, CFO, and Team IR) took their time to explain Quadient's positioning, strategy and targets, as the market struggles to understand the group’s business model. As we see it, the group’s strategy makes perfect sense, but it targets the long term and is now in an investment phase. For this reason, we are sticking to our Neutral rating on the stock.The main strategic thrusts...Neopost supplies mailroom equipment, offering products for franking, folding & inserting, addressing, address cleansing, tracking, tracing letters, parcels & the supply chain. Co. also offers various services, including consulting, maintenance, financial services & online service. Co.'s activities can be summed up to 2 segments: Mailroom Solutions & Communication & Shipping Solutions, divided into 9 operations: Automated mail opening, Management of incoming mail & traceability of important mail, Address printers, Automated insertion equipment, Intelligent franking, Financing solutions, Data quality, Customer Communication Management and Shipping Solutions, mainly in Europe & North America.
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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