Bonduelle: 'valuation remains attractive' Oddo says
(CercleFinance.com) - Bonduelle's 2017/18 results were in line with expectations according to Oddo.
The broker maintains its buy rating on the stock, with a target price of 37 euros, saying that the stock's valuation remains attractive.
Bonduelle has posted a underlying operating income that is up 14.2% at 123.6 million euros, in line with expectations (125 million euros e; consensus 124 million euros).
The group's underlying operating margin reached 4.5%, down 20 bp as reported, although up 60 bp at constant exchange rates and consolidation scope. Oddo highlights the strong growth in Bonduelle's margin in Europe (+50bp at 4.4%, vs. 4% e).
For FY 2018/19, Bonduelle has set itself a target, excluding FX factors, of sales growth of +2.5%, with operating profitability up by around 5%.
Copyright (c) 2018 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.
The broker maintains its buy rating on the stock, with a target price of 37 euros, saying that the stock's valuation remains attractive.
Bonduelle has posted a underlying operating income that is up 14.2% at 123.6 million euros, in line with expectations (125 million euros e; consensus 124 million euros).
The group's underlying operating margin reached 4.5%, down 20 bp as reported, although up 60 bp at constant exchange rates and consolidation scope. Oddo highlights the strong growth in Bonduelle's margin in Europe (+50bp at 4.4%, vs. 4% e).
For FY 2018/19, Bonduelle has set itself a target, excluding FX factors, of sales growth of +2.5%, with operating profitability up by around 5%.
Copyright (c) 2018 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.