Rexel’s share price slumped >9% yesterday after the Q3 sales came in slightly short of market expectations. The sales momentum moderated in Q3 vs Q2, as a result of a relatively tougher base effect and some impact from supply chain constraints. While the Q3 update was underwhelming, we view yesterday’s stock price movement as a market overreaction. Although we will be trimming our estimates post the Q3 results, we remain optimistic on Rexel on the back of structural growth drivers and the cheap ....
22 Oct 2021
Sell-off creates a buy opportunity for this compelling value proposition
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Sell-off creates a buy opportunity for this compelling value proposition
Rexel’s share price slumped >9% yesterday after the Q3 sales came in slightly short of market expectations. The sales momentum moderated in Q3 vs Q2, as a result of a relatively tougher base effect and some impact from supply chain constraints. While the Q3 update was underwhelming, we view yesterday’s stock price movement as a market overreaction. Although we will be trimming our estimates post the Q3 results, we remain optimistic on Rexel on the back of structural growth drivers and the cheap ....