Beneteau: sanction too severe, Portzamparc says
(CercleFinance.com) - Portzamparc, the broker that is specialised in Parisian "smidcaps," persists regarding its stance on the Beneteau stock, which was hammered in the market yesterday (-20.
6%).
Maintaining their “buy” rating on the stock, analysts have a target price of 21 euros. This represents upside potential of over 60%.
Q3 sales figures published by the boat maker fell short of analysts' estimates, reaching 420.9 million euros, against 455 million expected.
Following the group's recent announcements, Beneteau saw one-fifth of its market capitalisation wiped out. According to Portzamparc, the sanction is (too) severe, in that it does not reflect the fundamental work carried out by the group (...) to meet a demand that remains upbeat, the broker states in its report. In addition, the strategic plan entitled "Transform to Perform" appear to be largely ignored by analysts.
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.
6%).
Maintaining their “buy” rating on the stock, analysts have a target price of 21 euros. This represents upside potential of over 60%.
Q3 sales figures published by the boat maker fell short of analysts' estimates, reaching 420.9 million euros, against 455 million expected.
Following the group's recent announcements, Beneteau saw one-fifth of its market capitalisation wiped out. According to Portzamparc, the sanction is (too) severe, in that it does not reflect the fundamental work carried out by the group (...) to meet a demand that remains upbeat, the broker states in its report. In addition, the strategic plan entitled "Transform to Perform" appear to be largely ignored by analysts.
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.