Rubis : Un derating exagéré
Le modèle économique de Rubis, qui a fait ses preuves historiquement, ne peut être remis en cause par la crise de la COVID. Le derating massif du titre depuis le début de l’année nous apparaît exagéré, y compris en intégrant les incertitudes ESG long terme. Nous réitérons notre opinion Achat avec un OC ramené à 40 € vs 50 €. - >Le distributeur de produits pétroliers n’est pas asymptomatique à l’épidémie COVID-19 - Contrairement aux attentes initiales et à l’historique ...Rubis is a holding company based in France. Co., through its subsidiaries, is engaged in the bulk import, production or distribution process, and storage of petroleum products in Europe, the Caribbean, and Africa. Co. operates bulk liquid storage facilities for petroleum products, chemicals, fertilizers, edible oils and molasses, and foodstuffs, as well as distributes butane, propane, and petroleum products in wholesale and retail. Co.'s customers primarily include hypermarkets and supermarkets; oil companies; chemists; and traders and intermediaries of fuel, oil or gas, manures, and other liquids.
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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