Oddo BHF - We are initiating coverage with a Buy recommendation

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Oddo BHF

Anne-Barbara Nicco

We are initiating coverage with a Buy recommendation

ITM Entreprises (Les Mousquetaires Group) has successfully placed its inaugural bond issue to refinance part of the bridging loan obtained to finance the acquisition of Casino stores. The senior unsecured notes due 2029 have an outstanding amount of € 300m and were priced at 5.75% vs. an IPT of 6.125%. In our Issuance Focus of 11 July 2024, we estimated the fair yield at around 4.75%. - We are initiating coverage with a Buy recommendation. The current yield of 5.7% ask represents ...

16/07/2024 1 EN

Provider

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.

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Analysts

Anne-Barbara Nicco

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We are initiating coverage with a Buy recommendation

Deutsche PfandbriefBank AG : Recovery confirmed in Q1 2025 but medium-term targets still too ambitious

AT&S AG : Q4 2024-25 results above expectations, Q1 2025-26 guidance below consensus, no FY 2024-25 outlook at this stage

Romgaz : Weaker than expected earnings on higher windfall tax expenses

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