SES - imagotag : Feedback from CMD: changing business model reflected in attractive 2027 targets, Outperform rating confirmed
>An attractive roadmap for 2027, target price lifted to € 156 - Yesterday afternoon, SES-imagotag held its CMD, in Paris, which we found overall very convincing. The new strategic roadmap shows the evolution of SESL's business model, from a historically pure hardware model to a hybrid model. Considering the new objectives communicated by the group for 2027, we have raised our 2027+ EBITDA forecast by 20% (20.5%e margin vs 17.2%e), while our 2023-25 estimates remain un...Ses Imagotag SA Formerly known as Ses-Imagotag SA. Ses Imagotag SA is a France-based company, which designs and markets electronic shelf labeling systems for food and non-food retail industries. The Company's solutions include store electronic systems (SES), electronic labels, software, radio and mounting systems. The Company's solutions are designed for every type of retail environment, including hypermarkets, supermarkets, electronics stores, garden centers, pharmacies and service stations. The Company's products are distributed in approximately 50 countries worldwide. Ses Imagotag SA's main clients include Intermarche, E. Leclerc, Monoprix, Groupe Casino, Carrefour and Auchan. The Company has a global presence, through its own subsidiaries and representations, in Italy, Spain, the United Kingdom, Scandinavia, Canada, Mexico and Singapore, as well as more than 60 international partners. It operates through imagotag GmbH, a manufacturer of electronic components.
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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