Seche Environnement : Road show feedback – a group worth rediscovering – target price raised to € 38 (vs €37)
>Equity story underpinned by international markets - Following a series of road shows with management in France, Belgium and Switzerland, we confirm our Buy recommendation on the stock. We have adjusted our target price to € 38 (vs € 37) and upgraded our EBITDA estimates by +6% for 2019 and 2020 to factor in better-than-expected 2018 performances as well as continued solid organic trends, reinforced by a sizeable scope effect.2018: solid organic momentum. The be...Seche Environnement offers environmental management solutions for industrial clients or local authorities. Co. operates waste treatment and recovery facilities and develops tools to produce energy from waste. Co. also collects and sorts all types of waste, whether household or industrial, hazardous or non-hazardous. For local authorities, Co. manages household waste and other environmental concerns. Co. is engaged in thermal treatment, storage, methanization of household waste and production of alternative fuels. For industrial clients, Co. has developed products and services for handling industrial waste from waste production sites to elimination facilities.
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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