It’s electrifying! Iniciamos cobertura con un P.O. de 138 euros/acc. COMPRAR. SU ha caído un -35% vs máximos’22 pese a tener un EBITA’21 un +18% superior (vs niveles pre-covid). Así, la ligera prima con la que cotiza frente a su media histórica no nos parece suficiente cuando los márgenes en los últimos 5 años han pasado de 14,8% a 17,3% (2021). Además, no se esperan impactos relevantes por inflación, cadena de suministros, Rusia, etc… lo que aporta tranquilidad de cara al cumplimiento de sus o...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, LAR ESPAÑA, SECTOR ELÉCTRICO, TÉCNICAS REUNIDAS. EUROPA: INTESA SANPAOLO, PROSUS, SCHNEIDER ELECTRIC. Semana marcada por el discurso de J Powell Nueva semana de volatilidad en las bolsas europeas que consiguieron desdibujar las caídas en el último tramo de la misma y cuya evolución vino marcada por los discursos de J. Powell ante el Congreso y el Senado y que apuntaron a una Fed dispuesta a seguir subiendo tipos hasta controlar la inflaci...
Technology Industry 4.0 Industry in the digital age The industry of tomorrow is being reshaped through the convergence of IT (Information Technologies) and OT (Operational Technologies) as well as hardware and software embedding to meet the structural challenges of the 21st century such as the ageing population and the value chain disruption. In this context, we are extending our industrial coverage to include six new hardware and software stocks at the heart of structuring themes in indu...
As a summary of the 1Q22 publications of our industrial coverage, we believe Schneider features the best fundamentals given (i) its strong industry automation focus, (ii) a product portfolio resolutely focused on sustainability and resource frugality in a context of tense supply chains, and (iii) its diversified geographical exposure. Schneider’s valuation, at par with building-focused players, is in our view not justified given its better fundamentals. Regarding Legrand and Somfy, players almos...
Smart Industries How to play capital goods stocks in a tense geopolitical context I – Lasting Geopolitical tensions could significantly impair growth and margins II – Schneider seems the most resilient player to an economic slowdown III – Metals, energy and labor inflation to weigh on costs IV - Currency risks V- Limited exposure to the Russian and Ukrainian economies VI – We adjust our risk perception, TP and rating to reflect risks
SCHNEIDER ELECTRIC - BUY | EUR170 VS. EUR150 (+9%) A new animal after all New guidance set ambitious outlook With sales growth underpinned by a favorable environment Solid targets but consistent with recent performance. Buy reiterated.
SCHNEIDER ELECTRIC - BUY | EUR150 VS. EUR143 (+5%) Supply chain remains a haunting issue. Company contact. The supply-chain constraint is getting slightly tighter… … but confidence in the guidance is still there And we not similar comments on the Legrand side anyway Buy maintained ahead of Q3 sale
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
SCHNEIDER ELECTRIC - BUY | EUR143 VS. EUR145 (+8%) Fine-tuning before the next release (company contact) Volumes are strong this year... … but raw materials inflation is strong too Consensus estimates set to be adjusted slightly Buy maintained but the share price could suffer short term
SCHNEIDER ELECTRIC - BUY | EUR145 VS. EUR136 (+6%) Positive stream Solid end markets and stimulus plans provide a fine visibility… … although components and raw materials remain a key uncertainty Asset rotation might be the next catalyst Valuation : still some upside with our current scenario
SCHNEIDER ELECTRIC BUY | EUR136 VS. EUR133 A fair opportunity at the current share price A somewhat flattish price offers a fair entry point Not all non-residential is dreadful Momentum remains favourable in 2021 Positive rating reiterated with a slightly higher TP
Building solutions, Cleantech & Energy transition Top Picks Q4: Schneider Electric Looking back in Q3 2020: whopping Somfy, solid Schneider What we see for Q4: headwinds from traffic for Eiffage and Vinci Schneider Electric as top pick for Q4 (new TP at EUR124 vs 123
SCHNEIDER ELECTRIC - BUY | EUR112(+8%) Large bolt-on deal in industrial data collection software Further expansion into the software business Deal price is within sector valuation range Deal rationale in line with Schneider strategy Positive deal which further strengthen software exposure
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.