Casino: Oddo confirms rating following disposal plan
(CercleFinance.com) - Oddo has confirmed its Neutral rating on the Casino stock, along with its target price of 40 euros, after the group announced the launch of a 1.
5 billion euro asset disposal plan to accelerate its debt reduction in France.
The broker calculates that the 1.5 billion euro disposal plan will have an impact of 5 euros/share in terms of DCF (taking into account an Ebit loss of 75 million p.a.) and the sale of Viavarejo will have a net impact of 2 euros/share, Oddo said in its daily equity report.
Analysts explain that the disposals could affect all asset categories, including Monoprix's walls, which are probably the most attractive: furthermore, some could be bought by Mercialys.
For 2019 and 2020, the group expects to maintain a growth momentum of 10% p.a. in Ebit for its Retail division in France.
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.
5 billion euro asset disposal plan to accelerate its debt reduction in France.
The broker calculates that the 1.5 billion euro disposal plan will have an impact of 5 euros/share in terms of DCF (taking into account an Ebit loss of 75 million p.a.) and the sale of Viavarejo will have a net impact of 2 euros/share, Oddo said in its daily equity report.
Analysts explain that the disposals could affect all asset categories, including Monoprix's walls, which are probably the most attractive: furthermore, some could be bought by Mercialys.
For 2019 and 2020, the group expects to maintain a growth momentum of 10% p.a. in Ebit for its Retail division in France.
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.