Report
Jeremy Garnier

STEF : 2018 année de transformation et de forts investissements : Objectif abaissé à 104 € (vs 117 €) – Neutre vs Achat

>Feedback roadshow : 2018 (et 2019 ?) année de transition - Suite au roadshow que nous avons organisé sur Paris vendredi dernier avec le CFO de STEF nous retenons les éléments suivants :Le marché européen de la consommation alimentaire se tasse au S1 (+1.3%) avec des baisses en Italie (-0.9%) et en Espagne (-0.4%) et malgré une bonne résilience en France (+3%). Le CA 2018 devrait cependant rester sur une bonne dynamique pour STEF (+7.8%e à 3.2 Md€e) portée par i/...
Underlying
Stefanutti & Bressan Holding

Stefanutti Stocks Holdings is a holding company. Co. provides a range of services in the engineering and construction industry, focusing on structures, buildings, roads, open-pit mining, mechanical services, industrial instrumentation, electrical contracting and power distribution equipment. Co.'s customers include governments, state-owned companies and local authorities, industrial and mining corporations, financial institutions and property developers. Co. is structured into these groups: Structures; Building; Road, Pipelines and Mining; and Mechanical, Electrical and Power. Co. operates in South Africa, sub-Saharan Africa as well as in the Middle East, in the private and public sectors.

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Jeremy Garnier

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