Danone is engaged in activities in the global food and beverages industry. Co. operates in four markets: Fresh Dairy Products (Co. produces and sells yogurts, fermented dairy products and other fresh dairy products); Waters (Co. produces and sells natural waters as well as flavored and vitamin-enriched waters products); Early Life Nutrition (Co. produces baby formula, milk-and fruit-based desserts, cereals, small pots of baby food and ready-made baby food); and Medical Nutrition (Co. develops adult and pediatric clinical nutrition products to be taken orally, or through a catheter in the event of malnutrition related to illness or other causes).
  • TickerBN
  • ISINFR0000120644
  • ExchangeEuronext Paris
  • SectorFood Producers
  • CountryFrance

Analysts

Matthieu DRIOL

Analyse court terme - DANONE : La tendance est haussière.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 63,57 € pourrait relancer le mouvement haussier vers 65,80 €. La rupture de 61,63 € mettrait la tendance en danger.

Matthieu DRIOL

Short term view - DANONE : The trend is bullish.

The trend is bullish. The current fall looks like a consolidation. The support at €63.57 could cause a bullish reaction towards €65.80. The break of €61.63 would endanger the trend.

Valérie GASTALDY

Medium term view - DANONE : The recent fall is getting more vigorous.

The trend is bullish. The recent fall is getting more vigorous. The next support is at €61.60. A break below €61.60 would challenge the trend.

Valérie GASTALDY

Analyse moyen terme - DANONE : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 61,60 €. La tendance serait remise en cause par la rupture de 61,60 €.

Matthieu DRIOL

Short term view - DANONE : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at €68.41 and €70.08. The trend would be invalidated below the support at €61.63.

Fatma Agnès Hamdani ...
  • Pierre Tegner

Danone : Encouraging inflection points in H1

>Key points that could allay concerns. Buy rating maintained - Buy recommendation and target price of €85 maintained. Danone’s H1 numbers once again highlighted the benefits of the rebalancing between growth (still very modest) and profitability. Although organic growth remains weak, we see a number of factors that could ease the market's scepticism. 1) excluding the boycott in Morocco (which is no excuse!), Q2 organic growth came to 4.3%. 2) 75% of WhiteWave's busine...

Fatma Agnès Hamdani ...
  • Pierre Tegner

Danone : Des points d’inflexion encourageants au S1

>Des éléments clés qui pourraient infléchir la défiance. Achat maintenu - Achat maintenu avec un OC inchangé de 85 €. La publication du S1 fait ressortir encore une fois les bénéfices du rééquilibrage entre croissance (encore très modeste) et rentabilité. Si la croissance organique reste modeste, nous notons plusieurs éléments qui devraient réduire le scepticisme du marché : 1) Hors boycott au Maroc (ce qui n’est pas un excuse !), la croissance organique du T2 ressort...

Valentin Pernet

Danone : Nestlé USA (Nestlé – Achat OC 85.0 CHF), Danone North America (Danone – Achat OC 85.0 €), Unilever United States (Unilever – Neutre OC 48.0 €) et Mars (non suivie) lancent la Sustainable Food Policy Alliance

>Les quatre géants de l’agroalimentaire américain ont créé une nouvelle organisation pour promouvoir une alimentation saine, transparente et de qualité, tout en respectant l’environnement. Leur action s’articule autour de 5 axes : Transparence pour les consommateurs : améliorer la qualité et l’accessibilité des informations auprès des consommateurs.Environnement : proposer des solutions (étayées par la science) pour lutter contre les impacts du changement c...

Valentin Pernet

Danone : Nestlé USA (Nestlé – Buy, TP CHF 85.0), Danone North America (Danone – Buy TP € 85.0), Unilever United States (Unilever – Neutral, TP € 48.0) and Mars (not covered) launch the Sustainable Food Policy Alliance

>The four giants of the US food industry have created a new organisation to promote healthy, transparent and high-quality food production that is also environmentally friendly. Their actions have five main objectives: Consumer transparency: improve the quality and accessibility of information for consumers.Environment: propose solutions (underpinned by science) to combat the effects of climate change: promote renewable energies and sustainable farming while...

Virginie Roumage

Danone: Yogurts and plant-based driving improvement of EDP Noram

Danone: (BUY, Fair Value EUR80 (+22%)) Yogurts and plant-based driving improvement of EDP Noram The strong improvement at EDP Noram was the main positive of the H1 2018 results. This was driven by both yoghurts and plant-based food and beverages. We maintain our forecast of 2.9% organic sales growth in 2018, with EDP Noram +1.1%, EDP International -1.3%, Waters +4.7% and Specialized Nutrition +8%. We should see a slowdown in H2 due to Specialized Nutrition and EDP International. Our 2018 EBIT margin is unchanged at 14.7%. Synergies and savings should partly offset 1/ the steep rise in PET pric...

A director sold 40,684 shares at 70.020EUR and

A director at Groupe Danone sold 40,684 shares at 70.020EUR and the significance rating of the trade was 72/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of ...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Eric Beaudet
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard, CFA
  • Olivier Lebrun
  • Pierre Tegner
  • Steven Gould
  • Sven Edelfelt
  • Valentin Pernet
  • Vincent Maulay
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/30/2018

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Anis Zgaya
  • Benoit Valleaux
  • Bruno Cavalier
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Eric Beaudet
  • Fatma Agnès Hamdani
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard, CFA
  • Olivier Lebrun
  • Pierre Tegner
  • Steven Gould
  • Sven Edelfelt
  • Valentin Pernet
  • Vincent Maulay
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/07/2018

...

Fatma Agnès Hamdani ...
  • Johanna Jourdain
  • Matthias Desmarais
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Tegner
  • Pierre Corby
  • Sylvain Goyon, CFA
  • Thomas Zlowodzki

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/10/2018

The market will be tempted to play a 40bp contraction (i.e. 5% on the basis of share prices on 6 July) in the risk premium linked to the temporary allaying of concerns about political risk in Europe and a trade war. Opt for 1/ the oil sector, via integrated oil companies, for which 2018 growth is visible (+39% estimated), accelerating and for which the valuation remains reasonable (P/CF 5.9x) and 2/ “defensive” segments overlooked during the period of market stress: food and beer for...

Fatma Agnès Hamdani ...
  • Johanna Jourdain
  • Matthias Desmarais
  • Olivier Lebrun
  • Oussema Denguir
  • Pierre Tegner
  • Pierre Corby
  • Sylvain Goyon, CFA
  • Thomas Zlowodzki

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 10/07/2018

Le marché sera tenté de jouer un dégonflement de 40 pb (soit 5% de potentiel) de la prime de risque lié à l’apaisement temporaire des craintes relatives au risque politique en Europe et à la guerre commerciale. Privilégier 1/ le secteur pétrolier, via les pétrolières intégrées, dont la croissance 2018 est visible (+39%e), en accélération et la valorisation raisonnable (P/CF 5,9x) et 2/ des segments « défensifs » oubliés lors de la phase de stress du marché : alimentation et bière don...

Christophe-Raphaël Ganet ...
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Léopold Authié
  • Matthias Desmarais
  • Pierre Tegner
  • Stephane Houri
  • Sven Edelfelt

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/05/2018

...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Jehanne Leroy

Proxy Report - 26/04/2018

On October, 18th 2017, Emmanuel Faber, CEO since 2014, became Chairman and CEO. As a counterpower, the company propose to elect Michel Landel as a director in order to entrust him the Lead Independent Director function. Regarding the 2017 remunerations granted and the 2018 remuneration policy, we regret the company's disclosure on some items. However, the LTIO performance conditions do not allow vesting in case of underperformance and we comment the company on that matter. Finally, one of the annual bonus criteria is Danone's commitment towards climate change. We note that Danone is now a si...

Jehanne Leroy

Proxy Report - 26/04/2018

Le 18 octobre 2017, la société a annoncé la réunion des fonctions de Président et de Directeur Général. Emmanuel Faber, Directeur Général depuis 2014, a ainsi été nommé Président Directeur Général à compter du 1 er décembre 2017. "Afin de continuer à garantir l’équilibre des pouvoirs au sein du Conseil d’Administration", la société propose la nomination de Michel Landel, ancien Directeur Général de Sodexo, comme administrateur, en vue de lui confier le poste d'Administrateur Référent indépendant. Concernant les rémunérations 2017 et la politique de rémunération 2018, s'il l'on regrette le man...

Jehanne Leroy

Etude de l'AG du 27/04/2017

ITEM 9: Danone is currently in the process of acquiring Whitewave Foods Company, global leader in organic foods, plant-based milks and related products. Therefore, the election of Mr Engles, Chairman and CEO of Whitewave is proposed. Although his expertise would be welcome, the board does not have a majority of independent members. Hence, we do not support his election.ITEM 13: Although the company indicates that in 2017, the enhanced chairmanship of Mr Riboud will end, and, consequently, his remuneration will be severely revised, no amount is disclosed. Hence, we do not support it.ITEM 14: Th...

Jehanne Leroy

Etude de l'AG du 27/04/2017

Danone a lancé depuis juillet 2016 une opération afin d’acquérir Whitewave Foods Company, leader mondial du Bio, des laits et produits frais d’origine végétale. Il est ainsi proposé de nommer au conseil de Danone Greg Engles, Président Directeur Général de Whitewave. Bien que l'expertise de M. Engles soit la bienvenue au regard de l'acquisition de cette opération, le conseil ne comprendra pas, post-AG, une majorité de membres indépendants ; nous ne soutenons donc pas sa nomination.Concernant les rémunérations de MM. Riboud et Faber, si celle de M. Riboud pour 2016 et 2017 reste bien trop génér...

Matthieu DRIOL

Analyse court terme - DANONE : La tendance est haussière.

La tendance est haussière. La baisse en cours s'apparente à une consolidation. Le support à 63,57 € pourrait relancer le mouvement haussier vers 65,80 €. La rupture de 61,63 € mettrait la tendance en danger.

Matthieu DRIOL

Short term view - DANONE : The trend is bullish.

The trend is bullish. The current fall looks like a consolidation. The support at €63.57 could cause a bullish reaction towards €65.80. The break of €61.63 would endanger the trend.

Valérie GASTALDY

Medium term view - DANONE : The recent fall is getting more vigorous.

The trend is bullish. The recent fall is getting more vigorous. The next support is at €61.60. A break below €61.60 would challenge the trend.

Valérie GASTALDY

Analyse moyen terme - DANONE : La baisse récente gagne en vigueur.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 61,60 €. La tendance serait remise en cause par la rupture de 61,60 €.

Matthieu DRIOL

Short term view - DANONE : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress. The following targets are at €68.41 and €70.08. The trend would be invalidated below the support at €61.63.

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