Short note
We believe that the JDG will look different in a few years from now. The furniture retail will undergo big consolidation as well as in the consumer finance division. Further we believe the automotive division and the Steinbuild division will contribute more as a % to the bottom line.
Conclusion
Given the backing of Steinhoff; the discount to NAV; the business consolidating and also being diversified à we believe that JDG at 25.70 is a good buy with a slightly longer term view.
Full report
View the trading idea & disclaimer → Trading idea – JDG
Chart
JDG 5 year daily line chart, courtesy of Bloomberg | www.bloomberg.com.
