Somfy: 2018 pleasantly surprises; Oddo BHF a buyer
(CercleFinance.com) - An analyst at Oddo BHF maintains his "buy" recommendation on the Somfy share, appreciating 2018 results that are satisfactory compared to [his] expectations, with a better-than-expected leverage on margins in organic terms.
Nevertheless, the broker still retains a cautious message regarding the French industrial group that is specialised in motorisation, the automation of housing and building locks and alarm systems. In their statement the company's directors say that in the near term they are not ruling out a slowdown in business due to macroeconomic conditions and geopolitical tensions. In addition, the group's margins will continue, to integrate sustained investment (innovation, IT, digitisation, partnerships) that could even be accentuated, Oddo BHF notes.
Justifying his"buy" recommendation by, amongst other things, the prospects of “smart” homes and controlled margins, given significant investments, the analyst confirms his target price of 80 euros for the share, suggesting upside potential of 10%.
Copyright (c) 2019 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.
Nevertheless, the broker still retains a cautious message regarding the French industrial group that is specialised in motorisation, the automation of housing and building locks and alarm systems. In their statement the company's directors say that in the near term they are not ruling out a slowdown in business due to macroeconomic conditions and geopolitical tensions. In addition, the group's margins will continue, to integrate sustained investment (innovation, IT, digitisation, partnerships) that could even be accentuated, Oddo BHF notes.
Justifying his"buy" recommendation by, amongst other things, the prospects of “smart” homes and controlled margins, given significant investments, the analyst confirms his target price of 80 euros for the share, suggesting upside potential of 10%.
Copyright (c) 2019 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.