Fnac Darty: Bryan Garnier still a buyer
(CercleFinance.com) - Reacting to the information of the specialist magazine LSA, which yesterday that reported Fnac Darty is considering taking over the group Ludendo (which holds the toy distribution brand La Grande Récré), an analyst at Bryan Garnier said that he is maintaining his “Buy” rating on the stock of the retail giant of cultural goods, leisure, technical products and appliances.
“This deal would strengthen Fnac Darty's position in the toy market (...) at first sight, risks linked to the deal seem to be limited: its financing is secured; the group has a strong track-record in integration; toys are not a new market for Fnac; cross-selling and omnichannel efforts can ensure market share gains,” the broker points out this morning.
While the analyst says that he is "just concerned by the potential amount of restructuring costs needed,” with a lack of appropriate figures, the broker is maintaining its fair value of 108 euros for the share.
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.
“This deal would strengthen Fnac Darty's position in the toy market (...) at first sight, risks linked to the deal seem to be limited: its financing is secured; the group has a strong track-record in integration; toys are not a new market for Fnac; cross-selling and omnichannel efforts can ensure market share gains,” the broker points out this morning.
While the analyst says that he is "just concerned by the potential amount of restructuring costs needed,” with a lack of appropriate figures, the broker is maintaining its fair value of 108 euros for the share.
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.