SMCP : 2024: light at end of the tunnel? Outperform vs Neutral, TP € 5.6 vs € 3.5
After three years of shareholder tussles that have soured the equity story, the July 2024 ruling and order should take a major weight off the stock and enhance its speculative appeal. While the textile market is manifestly going through rough times, SMCP is trading at valuation levels out of keeping with the commendable operational performance it has been delivering in this adverse climate. We are upgrading our rating to Outperform from Neutral and raising our target price to € 5...SMCP is engaged in the apparel and accessories retail market. Co.'s products are sold through a network of points of sale and websites. Co.'s product range is composed of on-trend and quality womenswear, menswear and accessories. Co.'s three brands can be characterized as follows: Sandro, targeted at sophisticated and self-confident women with a sleek, cool sense of style and a Parisian nonchalance; Maje, a bohemian chic positioning, targeting a feminine and young-at-heart and joie de vivre clientele and Claudie Pierlot, characterized as Parisian-preppy, wise and with a rebel touch. Claudie Pierlot is focused on a timeless, effortless style.
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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