Wendel : Update following JDD article: Buy rating maintained, target price lifted to € 110 vs € 90, while discount remains at 38%
>An article difficult to understand... - In an article published over the weekend, JDD outlined woes the group was supposedly going through, but we do not subscribe to this depiction of the group’s situation. These difficulties are said to include mainly: i/ not enough deals, (and embodiment of the company), ii/ decline in share value and 3/ dividend deemed low.On the low number of deals and management's caution - On the first point, it is true t...Wendel is an investment company specializing in acquiring long-term holdings in industrial and services companies. Co.'s activities can be divided into six main divisions. Through Bureau Veritas, Co. provides conformity assessment services and certification. Through Stahl, Co. is engaged in high performance coatings and leather finishing products. Through Saint-Gobain, Co. manufactures, transforms and distributes construction materials. Through Legrand, Co. specializes in electrical and digital building infrastructures. Through Deutsch, Co. provides high-performance connectors. Through Materis, Co. provides specialty chemicals for construction.
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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