A quite correct set of results for Q2 but the continued deterioration in South American currencies against the euro is still limiting any real recovery of the stock. We maintain our Add recommendation on the stock with an 11.5% upside.
26 Jul 2018
A good performance if we leave out forex
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A good performance if we leave out forex
A quite correct set of results for Q2 but the continued deterioration in South American currencies against the euro is still limiting any real recovery of the stock. We maintain our Add recommendation on the stock with an 11.5% upside.