Rexel : Upgrade to Outperform: harvest time has arrived
>Momentum picking up at last - After a very long downhill spiral, which saw the operating margin fall from 6% in 2007 to 4.2% in 2016, before improving slightly ahead of a fresh deterioration to 4.2% in 2020, along with average organic growth of 0% (2010-2020), we are at last seeing some potential with a combined rebound to come in sales and margins. Not only does Rexel believe that it is capable of growing at a slightly faster pace than the market, but the combined i...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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