Rexel: market is too pessimistic, says UBS.
(CercleFinance.com) - UBS maintains its buy rating on the Rexel share, believing that the share of the French professional electrical equipment distributor is suffering from an excessively pessimistic sentiment.
The broker maintains its 12-month target price at 18 euros.
After a meeting with company management (CEO the CFO), UBS analysts first point out that Rexel's current business looks satisfactory at present.
Finally, "“the Amazon threat looks exaggerated to us (which has just started in B2B, editor's note) especially in Europe," says UBS, with Rexel being protected by its close relations with hardware manufacturers and the complexity of its market.
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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.
The broker maintains its 12-month target price at 18 euros.
After a meeting with company management (CEO the CFO), UBS analysts first point out that Rexel's current business looks satisfactory at present.
Finally, "“the Amazon threat looks exaggerated to us (which has just started in B2B, editor's note) especially in Europe," says UBS, with Rexel being protected by its close relations with hardware manufacturers and the complexity of its market.
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.