Bénéteau: Conservative targets for 2020, SG says.
(CercleFinance.com) - Société Générale (SG) this morning confirmed its buy rating on the Bénéteau share, the day after the boat maker presented its medium-term strategic plan.
For the time being, SG is maintaining its 12-month target price of 15.9 euros.
Analysts hail the announcements of the previous day, in a note entitled, “Conservative targets, aggressive strategy.” They add that
“The company's Investor Day bolstered our opinion of Bénéteau's potential to develop and improve its operating leverage, even though we find its 2020 targets to be on the conservative side.”
Indeed, Bénéteau expects its market to grow by 3% through to 2020, as has been the case over the past two year; the group expects to do better in organic terms.
At the Boats division, which represents the majority of its business, Bénéteau targets sales of 1.2 billion euros in 2020, with an EBIT margin of 8% to 8.5%. Meanwhile, SG expects better performance, deeming that the company's targets are “conservative”.
The report welcomes that “Bénéteau is in a unique position, with a presence in every type of pleasure craft, ten brands, leadership positions in new segments (...), and - despite the crisis - an investment capacity that allows it to offer 30 new products a year.”
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
For the time being, SG is maintaining its 12-month target price of 15.9 euros.
Analysts hail the announcements of the previous day, in a note entitled, “Conservative targets, aggressive strategy.” They add that
“The company's Investor Day bolstered our opinion of Bénéteau's potential to develop and improve its operating leverage, even though we find its 2020 targets to be on the conservative side.”
Indeed, Bénéteau expects its market to grow by 3% through to 2020, as has been the case over the past two year; the group expects to do better in organic terms.
At the Boats division, which represents the majority of its business, Bénéteau targets sales of 1.2 billion euros in 2020, with an EBIT margin of 8% to 8.5%. Meanwhile, SG expects better performance, deeming that the company's targets are “conservative”.
The report welcomes that “Bénéteau is in a unique position, with a presence in every type of pleasure craft, ten brands, leadership positions in new segments (...), and - despite the crisis - an investment capacity that allows it to offer 30 new products a year.”
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.