Neopost: Oddo confirms 'neutral' rating.
(CercleFinance.com) - Oddo has confirmed its "neutral" rating on Neopost, with a target price of 38 euros and after a roadshow that was marked by an extremely confident speech about the opportunities that are arising as part of the group's new developments.
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The transformation plan is proceeding according to expectations, which will give birth to a group that will combine recurrent revenues, growth and a high FCF generation (high conversion rate from EBITDA to FCF), the broker summarises, even though it has a rather conservative outlook for 2018, with margins close to those of this year.
At around 5%, yield is its main attraction in the near term; beyond a valuation that is deemed modest.
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.
"
The transformation plan is proceeding according to expectations, which will give birth to a group that will combine recurrent revenues, growth and a high FCF generation (high conversion rate from EBITDA to FCF), the broker summarises, even though it has a rather conservative outlook for 2018, with margins close to those of this year.
At around 5%, yield is its main attraction in the near term; beyond a valuation that is deemed modest.
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.