Rexel : Nous relevons notre OC à 20.0 €, Surperformance confirmée
>Révision en hausse de nos chiffres après le T1 - Nous révisons nos BPA en hausse de plus de 5% en moyenne grâce à une meilleure croissance organique à jours constants en 2021e (8.7% au lieu de 6.7% ; puis 4.0% en 2022e, inchangés) et à des marges relevées de 10 pb entre 2021e et 2023e. La croissance de 8.6% au T1 2021, qui sera suivie d’un T2 prévu à +16% (effet de base COVID), combinée avec des effets prix (hors câbles) qui pourraient atteindre 2.5-3.0% estimés cett...Rexel distributes low and ultra-low voltage electrical products to contractors, industrial and commercial customers (industrial and commercial companies, municipalities, public entities, parts manufacturers and panel builders). Its products are used for new installations, or maintenance & repair of existing installations. Its products covers Electrical Installation Equipment, Conduits and Cables, Lighting, Security & Communication, Climate Control, Tools, White & Brown Products. Co. also offers services to its customers, such as logistics & distribution, technical assistance & training. Co. operates mainly in four geographical areas: Europe, North America, Asia-Pacific and Latin 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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