Rubis : Time to decide
Ahead of a crucial AGM, we are reiterating our Outperform recommendation and have raised our target price to € 39 (vs € 36). The arrival of activist shareholders could lead to changes in the governance and a review of the strategy for the allocation of resources which have historically weighed on the share's performance. - >Issues weighing on valuation… - Rubis generated record profits in 2023 (net profit = € 354m vs € 307m for the previous record in 2019) that managem...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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