Fnac: up 4%; potential merger with Carrefour ahead.
(CercleFinance.com) - The Fnac share is soaring over 4% today, benefiting from merger speculation with the group Carrefour.
Alongside this, Oddo has upgraded its rating on the stock, having raised its target price from 65 euros to 75 euros, assuming that 90% of expected synergies will be generated through the merger with Carrefour.
Oddo analysts are expecting a merger between Carrefour and the Fnac/Darty Group, which they believe would be highly relevant from an operational and financial point of view.
Oddo explains that the possible arrival of Mr. Bompard, currently CEO at Fnac, at Carrefour, could potentially lead to a merger with the Fnac-Darty group, and would solve two crucial issues for Carrefour's long-term viability: a leading position in internet, with the new Group having over 30 million unique visitors per month, i.e. 30% more than Amazon.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Alongside this, Oddo has upgraded its rating on the stock, having raised its target price from 65 euros to 75 euros, assuming that 90% of expected synergies will be generated through the merger with Carrefour.
Oddo analysts are expecting a merger between Carrefour and the Fnac/Darty Group, which they believe would be highly relevant from an operational and financial point of view.
Oddo explains that the possible arrival of Mr. Bompard, currently CEO at Fnac, at Carrefour, could potentially lead to a merger with the Fnac-Darty group, and would solve two crucial issues for Carrefour's long-term viability: a leading position in internet, with the new Group having over 30 million unique visitors per month, i.e. 30% more than Amazon.
Copyright (c) 2017 CercleFinance.com. All rights reserved.