Safilo: Safilo strengthens its commercial strategy with a new Global Commercial Director function
BUY, Fair Value EUR19 (+14%)
Safilo announced the creation of a new function at Safilo: Global Commercial Director, which will be held by Henri Blomqvist. This appointment confirms that the group is already working on enhancing its global commercial strategy, which is one of the strategic decisions set by the new CEO Luisa Delgado. Buy recommendation reiterated as Safilo is the most attractive stock in the Optics sector (2014e PEG ratio of 0.4x) and the self-help margins improvement catalyst is a supportive MT catalyst for the rerating of Safilo.
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