Korian is an actor on the temporary and permanent dependency care market in France, Germany and Italy. Co. offers and develops services related to dependency through its retirement homes (116 as of Dec 31 2009), follow-up care and rehabilitation facilities (35 as of Dec 31 2009) and psychiatric clinics (11 as of Dec 31 2009). Co.'s operations can be divided into four geographical segments: Medical and Social activity in France (retirement homes); Sanitary activity in France (follow-up care, rehabilitation, psychiatry and home medical care); Italy; and Germany.
  • TickerKORI
  • ISINFR0010386334
  • ExchangeEuronext Paris
  • SectorHealth Care Equipment & Services
  • CountryFrance

Analysts

KORIAN SA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of KORIAN SA (FR), a company active in the Health Care Providers industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date November 8, 2019, the closing price was EUR 39.42 and its potential was estimated at EUR 42.80.

Tony Lebon

Korian : Recommandation relevée à Achat sur l’ODIRNANE

Nous updatons notre recommandation sur l’ODIRNANE suite au roadshow crédit Korian que nous avons organisé dans nos locaux. - Depuis notre initiation de couverture le 19 juin dernier, le cours de l’action Korian a progressé de +12% (de 35,26 EUR à 39,40 EUR), alors que le prix de l’ODIRNANE n’a augmenté que de +4% (ask price : de 45,75 EUR à 47,75 EUR), ce qui représente un peu plus d’un tiers de la performance de l’action alors que le delta de la convertible était d’environ 50% en...

Tony Lebon

Korian : Recommendation raised to Buy on ODIRNANE bond

We are updating our recommendation on the ODIRNANE bond following the Korian credit roadshow that we organized at Oddo BHF HQ in Paris. - Since our initiation of coverage on June 19, the Korian share price has risen by +12% (from EUR 35.26 to EUR 39.40), while the ODIRNANE price has increased by only +4% (ask price: from EUR 45.75 to EUR 47.75), which represents a bit more than one third of the share's performance, while the convertible delta was around 50% in June. - Given this el...

Christophe-Raphaël Ganet

Korian : Q3 2019 sales in line - solid organic growth - guidance confirmed

>Q3 at 8.4% of which +3.8% organic - Sales totalled € 910.3m at end-September (+8.2% and 3.8% organic).Acceleration in the pace of organic growth is confirmed by Q3 - The three key takeaways from the conference call which followed the publication are as follows:1- Q3 is in line with our forecasts and calls for few comments. It more or less prolonged trends at the end of June (+8.4% and +3.8% l-f-l vs +8.2% and +3.8% lfl in H1), the price effect...

Alain William ...
  • Alexandre Iatrides
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Hela Zarrouk
  • Jean-François Granjon
  • Martial Descoutures
  • Michael Foundoukidis
  • Oussema Denguir
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 10/23/2019

We are initiating coverage of Merlin Properties and Colonial, Spain’s top two REITs, with a Buy recommendation. We expect the groups, each with its specific strategic direction, to continue their development in a positive economic climate. - - ...

Bruno de La Rochebrochard

Korian: Q2 revenue: further improvement in organic growth continues with dynamic bolt-on acquisitions

Brief Comment - Korian: (BUY, Fair Value EUR33 (+12%)) Q2 revenue: further improvement in organic growth continues with dynamic bolt-on acquisitions

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 23/10/2019 - Casino, BPER - Ubi Banca, Eramet- EN

Casino (O/P On Short Term Bonds, M/P On Long Term Bonds): Obtains New Secured Bank Loans, Downgrade Of Its Rating By Moody's BPER (O/P vs M/P) - UBI Banca (O/P): Rumours of A Merger Eramet (M/P): Confirms its Production Targets Softbank (M/P): $5bn Additional Funding Injected Into Wework Peugeot (O/P) - Q3-19: Revenues Up 1% To €15.6bn Crown European Holdings (M/P): Issued A €550m 3NLC 0.875% Bond Boston Scientific: 8Y Senior Unsecured Bond issue planned Akzo Nobel (M/P) - 9M19: EBITDA Of €1.0bn (+29%)

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 23/10/2019 - Casino, BPER - Ubi Banca, Eramet- FR

Casino (Achat souches courtes, Conserver souches longues) : Obtention de nouvelles lignes bancaires sécurisées, dégradation du rating par Moody’s BPER (Achat) – UBI Banca (Achat) : Rumeurs de fusion Eramet (Conserver) : Confirmation des objectifs de production SoftBank (Conserver) : Injection de fonds supplémentaires de $5 mds dans WeWork Peugeot (Achat) - T3-19 : CA de €15,6 mds en hausse de 1% Crown European Holdings (Conserver) : Emission d'une obligation de €550m 3NLC 0,875% Boston Scientific : Prévoit d’émettre une obligation senior...

Tony Lebon

Korian : Un véhicule de récurrence des résultats mais correctement valorisée

>Initiation du suivi de Korian côté crédit avec une reco. Neutre - Nous adoptons une recommandation Neutre sur l’ODIRNANE Korian call 2023. Même si nous apprécions le caractère récurrent des revenus et de la rentabilité de l’émetteur, l’ODIRNANE est à sa fair value en spot aujourd’hui et l’upside en prospectif est limité sur la base du TP de notre analyste equity. Toutefois, nous n’excluons pas, pour notre part, un retour (timing incertain) de la thématique ...

Tony Lebon

Korian : A vehicle of recurring results but at a fair valuation

>Initiation of Korian's coverage on the credit side with a Neutral reco. - We are adopting a Neutral recommendation on the Korian ODIRNANE bond (with a call in 2023). Even though we like the recurring nature of the issuer's revenue and profitability, the ODIRNANE bond is at its fair value on a spot basis today and the prospective upside is limited on the basis of our equity analyst’s target price on the stock. But we do not exclude, for our part, a return (w...

Tony Lebon

Korian : Potential takeover bid on Korian: implications for ODIRNANE bond holders

Christophe-Raphaël Ganet

Korian : Q3 2019 sales in line - solid organic growth - guidance confirmed

>Q3 at 8.4% of which +3.8% organic - Sales totalled € 910.3m at end-September (+8.2% and 3.8% organic).Acceleration in the pace of organic growth is confirmed by Q3 - The three key takeaways from the conference call which followed the publication are as follows:1- Q3 is in line with our forecasts and calls for few comments. It more or less prolonged trends at the end of June (+8.4% and +3.8% l-f-l vs +8.2% and +3.8% lfl in H1), the price effect...

Christophe-Raphaël Ganet

Korian : CA T3 2019 conforme - Organique solide - Guidance confirmée

>T3 à 8.4% dont +3.8% en organique - Le CA a atteint 910.3 M€ à fin septembre (+8.2% et 3.8% organique).Le redressement de la croissance organique est confirmé par le T3 - De cette publication et de la conférence call qui a suivi, nous retenons 3 brefs éléments :1- Le T3 est conforme à notre attente et appelle peu de commentaires finalement. Il prolonge peu ou prou les tendances à fin juin (+8,4% et +3,8% lfl vs +8,2% et +3,8% lfl au S1), l'eff...

Christophe-Raphaël Ganet

Korian : CMD feedback: confident in the guidance

>Korian is comfortable with its roadmap and its guidance - In September 2016, the previous Capital Market Day had set the targets for 2021 (€ 3.8bn of sales, and an EBITDA margin of 14.5%). Now, management anticipates at least € 4.2bn (i.e. growth of over 8% p.a.) and 15.5%.It is also targeting € 5bn of sales by 2023 and is looking to be the key European player in terms of quality (ISO 9001 certification), innovation (Korian wants to be the digital leader in seni...

Christophe-Raphaël Ganet

Korian : Feedback CMD : confiance affichée par rapport aux guidances

>Korian “confortable” avec sa feuille de route et ses guidances - En septembre 2016, le précédent Capital Market Day avait fixé des objectif 2021 (3,8 Md€ de CA, et une marge d’EBITDA de 14,5%). A présent, le management table sur au moins 4,2 Md€ (soit une croissance de plus de 8%/an) et 15,5%.Il vise en outre 5 Md€ de CA à horizon 2023 et ambitionne d’être l’acteur européen de référence en matière de qualité (certification ISO 9001), d’innovation (Korian vise d’...

Bruno de La Rochebrochard

KORIAN: CMD feedback: Convincing, estimates adjusted on management guidance. FV upgraded | BUY - Top Picks | EUR42.5 vs. EUR40 (+14%)

KORIAN - BUY - Top Picks | EUR42.5 vs. EUR40 (+14%) CMD feedback: Convincing, estimates adjusted on management guidance. FV upgraded Strong confidence on top line growth of at least 8% EBITDA margin should continue to improve… …as net profit An implicit upward revision of the OFCF

1 director bought

A director at Korian Promesses bought 1,150,000 shares at 32.870EUR and the significance rating of the trade was 100/100. 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 ...

Alain William ...
  • Alexandre Iatrides
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Hela Zarrouk
  • Jean-François Granjon
  • Martial Descoutures
  • Michael Foundoukidis
  • Oussema Denguir
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 10/23/2019

We are initiating coverage of Merlin Properties and Colonial, Spain’s top two REITs, with a Buy recommendation. We expect the groups, each with its specific strategic direction, to continue their development in a positive economic climate. - - ...

Alain William ...
  • Alexandre Iatrides
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Hela Zarrouk
  • Jean-François Granjon
  • Martial Descoutures
  • Michael Foundoukidis
  • Oussema Denguir
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 23/10/2019

...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Jean-François Granjon
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 09/24/2019

...

Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Jean-François Granjon
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas David
  • Nicolas Thorez
  • Oussema Denguir
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 24/09/2019

...

Alain William ...
  • Alexandre Iatrides
  • Aurelien Sivignon
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Louis Boujard, CFA
  • Nicolas Thorez
  • Olfa Taamallah
  • Oussema Denguir
  • Philippe Ourpatian
  • Pierre Corby
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 08/01/2019

...

KORIAN SA sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of KORIAN SA (FR), a company active in the Health Care Providers industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date November 8, 2019, the closing price was EUR 39.42 and its potential was estimated at EUR 42.80.

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...

Tony Lebon

Korian : Recommandation relevée à Achat sur l’ODIRNANE

Nous updatons notre recommandation sur l’ODIRNANE suite au roadshow crédit Korian que nous avons organisé dans nos locaux. - Depuis notre initiation de couverture le 19 juin dernier, le cours de l’action Korian a progressé de +12% (de 35,26 EUR à 39,40 EUR), alors que le prix de l’ODIRNANE n’a augmenté que de +4% (ask price : de 45,75 EUR à 47,75 EUR), ce qui représente un peu plus d’un tiers de la performance de l’action alors que le delta de la convertible était d’environ 50% en...

Tony Lebon

Korian : Recommendation raised to Buy on ODIRNANE bond

We are updating our recommendation on the ODIRNANE bond following the Korian credit roadshow that we organized at Oddo BHF HQ in Paris. - Since our initiation of coverage on June 19, the Korian share price has risen by +12% (from EUR 35.26 to EUR 39.40), while the ODIRNANE price has increased by only +4% (ask price: from EUR 45.75 to EUR 47.75), which represents a bit more than one third of the share's performance, while the convertible delta was around 50% in June. - Given this el...

Jehanne Leroy

Korian - Assemblée générale des actionnaires du 06 juin 2019

RémunérationsPar rapport à la précédente politique de rémunération, en termes de montants et de structure, la société ne propose aucune modification. Cependant, elle améliore sa communication puisqu’elle décrit (dans un communiqué publié sur son site) la nature des critères qualitatifs qui seront utilisés dans le cadre du bonus, ce qu’elle ne faisait pas précédemment. Par ailleurs, elle a ajouté un critère RSE à son bonus 2019 (conformément aux recommandations du code Afep/Medef révisé en juin 2018 auquel la société se réfère), ce que l’on appréciera. Ces changements sont positifs. Aussi, nous...

Jehanne Leroy

Proxy Report - 14/06/2018

La politique de rémunération de Mme Boissard souffre toujours d’une faiblesse significative : la rémunération actionnariale soit basée sur des conditions de performance qui ne sont pas mesurées sur le long-terme (3 ans minimum). Cependant, la société a mis en place pour la politique de rémunération 2018 2 améliorations significatives concernant le plafonnement de la rémunération long-terme et celui des rémunérations exceptionnelles. Aussi la politique de rémunération 2018 semble préférable à celle mise en place pour 2017 et nous soutenons donc la nouvelle politique (résolution 7). Cependant, ...

SRI Quantitative KPIs

Les analyses Gaïa sont des analyses ESG (Environnement, Social, Gouvernance) dediees aux entreprises de tailles intermediaires (PME, ETI) françaises. Elles presentent 120 indicateurs quantitatifs sur les trois derniers exercices.

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Global equities nearing potential resistance Helped by support from global central banks and improving trade headlines, critical support levels have held for major global indexes and therefore our outlook remains constructive. At the same time, just because these indexes are not breaking down does not mean they are headed higher. Rather, we believe global equities remain in a state of purgatory and consolidation is likely to continue as several major indexes approach logical resistance... see charts below and page 2. With global equity markets generally moving sideways, we want to stick with ...

Matthieu DRIOL

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

The background trend is clearly bullish. Prices are still making progress. The following targets are at €34.74 and €35.50. The trend would be invalidated below the support at €27.30.

Matthieu DRIOL

Analyse court terme - KORIAN : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 34,74 € et 35,50 €. La tendance serait invalidée sous le support à 27,30 €.

Matthieu DRIOL

Analyse court terme - KORIAN : Les cours progressent toujours.

La tendance de fond est clairement orientée à la hausse. Les cours progressent toujours. Les objectifs suivants sont à 34,74 € et 35,50 €. La tendance serait invalidée sous le support à 27,30 €.

Matthieu DRIOL

Short term view - KORIAN : Prices are still making progress.

The background trend is clearly bullish. Prices are still making progress. The following targets are at €34.74 and €35.50. The trend would be invalidated below the support at €27.30.

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