Rexel: Oddo remains neutral pending trading update
(CercleFinance.com) - On Tuesday Oddo renewed its "neutral" rating on the Rexel stock, along with its target price of 14.
7 euros, before the group unveils its Q1 results.
The broker expects a 4.8% increase in revenues in organic terms to 3.22 billion euros, with adjusted EBITDA of 139 million euros (margin of 4.3%) and net profit of 59 million euros. It also expects the group's free cash flow (FCF) to improve, due to a weak comparison basis, while emphasizing that the first quarter is "generally very negative" (due to seasonal effects).
Over FY 2018, Oddo now forecasts organic growth of 3.9%, 0.1 percentage point lower than its previous estimate, with adjusted EBITDA that is up 5.6%, compared with a growth forecast of 8.2% previously.
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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.
7 euros, before the group unveils its Q1 results.
The broker expects a 4.8% increase in revenues in organic terms to 3.22 billion euros, with adjusted EBITDA of 139 million euros (margin of 4.3%) and net profit of 59 million euros. It also expects the group's free cash flow (FCF) to improve, due to a weak comparison basis, while emphasizing that the first quarter is "generally very negative" (due to seasonal effects).
Over FY 2018, Oddo now forecasts organic growth of 3.9%, 0.1 percentage point lower than its previous estimate, with adjusted EBITDA that is up 5.6%, compared with a growth forecast of 8.2% previously.
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.