SES - imagotag : Valuation remains attractive given growth prospects and margin leverage - Outperform and target price of € 58
>Commercial momentum still at a sustained pace in Q1 with notably the announcement of Walmart Canada - We were on a roadshow last week with the group’s management (CEO and CFO). After a record Q4 in terms of order intake (€ 200m), the trend has remained highly favourable in Q1 with over € 100m in orders, notably thanks to a first contract with Walmart Canada (ESL and cloud platform deployment in 328 shops over two years).North America, particularly the US, contin...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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