Bénéteau: Portzamparc ups target price after Investor day.
(CercleFinance.com) - Portzamparc has raised its target price from 15.
2 euros to 17 euros and has renewed its "buy" rating on Bénéteau, the day after the group held its Investor Day.
"Before launching its modernisation projects and its new horizon 2020 plan, the group has first sought to structure itself," the broker points out, recalling that Beneteau aims to reach 30% sales growth by the beginning of the next decade, reaching 1.4 billion euros. Free cash flow generation is expected to be between 200 million euros and 250 million euros over the plan, with annual capex of 75 million euros.
"In order to achieve these targets, management intends to outperform the nautical market in all the segments where it operates," Portzamparc continues, emphasizing that the overall target is to "produce better (avoid any faulty workmanship) and faster (with an aim to reduce production time by 15% by 2020").
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.
2 euros to 17 euros and has renewed its "buy" rating on Bénéteau, the day after the group held its Investor Day.
"Before launching its modernisation projects and its new horizon 2020 plan, the group has first sought to structure itself," the broker points out, recalling that Beneteau aims to reach 30% sales growth by the beginning of the next decade, reaching 1.4 billion euros. Free cash flow generation is expected to be between 200 million euros and 250 million euros over the plan, with annual capex of 75 million euros.
"In order to achieve these targets, management intends to outperform the nautical market in all the segments where it operates," Portzamparc continues, emphasizing that the overall target is to "produce better (avoid any faulty workmanship) and faster (with an aim to reduce production time by 15% by 2020").
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.