Tod's Group: H1 above expectations!

NEUTRAL, Fair Value EUR88 vs. EUR83 (-7%)
News published on August Friday 7, 2015
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Although the H1 results were above expectations both at the top and EBIT lines, the group’s performance was still below peers. We adjust our FY EBIT by 4% hence our new EUR88 FV. We keep our Neutral recommendation due to its already high valuation.

 

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