Fnac Darty: the stock falls, an analyst remains cautious – 04/21/2023 at 17:26


(CercleFinance.com) – The stock ended the day down nearly 5% after the publication of results for the 1st quarter of 2023.

Oddo BHF maintains its underperformance rating on the Fnac Darty share, with an unchanged price target of 30 euros.

Yesterday evening, Fnac Darty published a turnover of 1781 ME for the 1st quarter, slightly above the consensus.

‘The quarter is marked by a complicated economic environment and consumer expectations which are moving towards a trading down, although it is not yet significant’, notes the analyst.

Fnac Darty also announced an agreement with MediaMarktConnect, a subsidiary of Ceconomy, to acquire 100% of their operations in Portugal.

Oddo BHF indicates to remain cautious in the short term due to a weak macro environment and ill-oriented consumption, which is naturally reflected in the valuation at 8.7x PE 2023e and 5.4x EV/EBIT 2023.



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