Rexel: stock jumps with analyst confirming rating.
(CercleFinance.com) - The Rexel jumped over 4% yesterday, with UBS confirming in the morning its buy rating on the stock, along with its 12 month target price of 18 euros.
After a meeting with management (CEO and CFO), UBS analysts first note that Rexel's business appears to be satisfactory at present.
Then, the turnaround in the US market will take several years Rexel confirmed. The level of inventories, the cultural change and the perception of clients are already improving, says a report, as "significant" productivity gains are expected to result from current investments. UBS is convinced that Rexel's management makes the right decisions and that they should prove to be profitable in the US next year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
After a meeting with management (CEO and CFO), UBS analysts first note that Rexel's business appears to be satisfactory at present.
Then, the turnaround in the US market will take several years Rexel confirmed. The level of inventories, the cultural change and the perception of clients are already improving, says a report, as "significant" productivity gains are expected to result from current investments. UBS is convinced that Rexel's management makes the right decisions and that they should prove to be profitable in the US next year.
Copyright (c) 2017 CercleFinance.com. All rights reserved.