We initiate coverage on Elior (€2.8bn market capitalisation) with a BUY recommendation. The stock stands out in the Catering and Concession markets given its niche position and its best-in-class track-record in terms of operating margins compared to peers. Also, we give a premium on the management and the CEO in particular, whose strategy looks clear and relevant.
*Our recommendation reflects the following drivers:*
*1)* Big contracts won in 2015:
+In France:+
* €700m of sales over 10 ye ....
18 Feb 2016
A cocktail of catalysts
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A cocktail of catalysts
Elior Group SA (ELIOR:PAR) | 0 0 2.4% | Mkt Cap: 3,211m
- Published:
18 Feb 2016 -
Author:
Bérénice Lacroix -
Pages:
3
We initiate coverage on Elior (€2.8bn market capitalisation) with a BUY recommendation. The stock stands out in the Catering and Concession markets given its niche position and its best-in-class track-record in terms of operating margins compared to peers. Also, we give a premium on the management and the CEO in particular, whose strategy looks clear and relevant.
*Our recommendation reflects the following drivers:*
*1)* Big contracts won in 2015:
+In France:+
* €700m of sales over 10 ye ....