Gemalto: Bryan Garnier reduces its target.
(CercleFinance.com) - Bryan Garnier reconfirms its 'sell' recommendation of Gemalto and reduces its fair value from 43 to 39 euros following preliminary results slightly under consensus and the lower bound of the group's target range.
The financial intermediary underlines that the digital security specialist has on this occasion issued a fourth profit warning for the 2017 financial year and reported a goodwill depreciation charge of around 420 million euros.
“Gemalto states that there is no visibility, and a new profit warning still remains possible”, adds the broker, which revised its EPS sequence with a downward adjustment of 27% on average for 2017-2018.
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 financial intermediary underlines that the digital security specialist has on this occasion issued a fourth profit warning for the 2017 financial year and reported a goodwill depreciation charge of around 420 million euros.
“Gemalto states that there is no visibility, and a new profit warning still remains possible”, adds the broker, which revised its EPS sequence with a downward adjustment of 27% on average for 2017-2018.
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.