Flash MANITOU, Acheter (1), Obj: 28€
Le T1 est décevant à cause de décalages mais ne remet pas en cause la croissance annuelle. En revanche la volatilité des prix incite le management à suspendre sa guidance de MOC, à l'image d'Haulotte la semaine dernière. Nous révisons notre scénario en baisse (BNPA -20%) ainsi que notre objectif de cours à 28€ vs 35€ précédemment.Manitou BF is active on the global market for material handling. Co. divides its activities into three divisions: Rough Terrain Handling (RTH) where Co. assembles and distributes rough terrain handling equipment such as masted forklift trucks and fixed and rotating telescopic forklift trucks; Industrial Material Handling (IMH) where Co. designs and distributes semi-industrial masted forklift trucks; industrial forklift trucks; truck-mounted forklifts; and Compact Equipment (CE) where Co. designs, assembles and distributes skid steer loaders, telescopic forklift trucks, articulated loaders and mini excavators. Co.'s brands include Manitou®, Gehl®, Mustang®, Loc®, Edge®.
Portzamparc is a subsidary of BNP Paribas which adapted the mission to contribute to responsible and sustainable growth of private clients, management companies and SMEs . They offer personalized support adapted to the objectives in particular for Small and Medium-Sized Enterprises.
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