D'Ieteren's share price was heavily penalized due to a profit warning and is now in an oversold situation near to a solid support area.
According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility.
Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the EUR 29.2 area should stop this trend and allow a technical rebound towards EUR 33. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
Considering technical and fundamental elements, it seems to be an appropriate timing to take immediately a long position in D'Ieteren in order to benefit from the EUR 29.2 support area. A first target price will be the EUR 33 resistance, ie a potential of 8.5%. A stop loss order will be placed under the mid-term support currently tested. Only a crossing of EUR 33 would validate a bullish trend in order to aim a higher target price.
In existence since 1805, and across family generations, D'Ieteren Group (the Group) is an investment company seeking growth and value creation by building a family of businesses that reinvent their industries and search for excellence and meaningful impact. It currently owns the following businesses:
- Belron (50.30% in fully diluted economic rights at 31 December 2023, equity-accounted investee): worldwide leader in vehicle glass repair, replacement and recalibration;
- D'Ieteren Automotive (100% owned): distributor of Volkswagen, Audi, SEAT, Skoda, Bentley, Lamborghini, Bugatti, Cupra, Rimac, Microlino, Maserati and Porsche vehicles in Belgium and expanding into other mobility services;
- PHE (100% in economic rights - see note 2) is a leader in the independent distribution of spare parts for vehicles in Western Europe, present in France, Belgium, The Netherlands, Luxemburg, Italy and Spain;
- TVH (40% owned - equity accounted-investee): leading global independent distributor for aftermarket parts for material handling, construction & industrial, and agricultural equipment;
- Moleskine (100% owned): develops and sells iconic branded notebooks and writing, travel and reading accessories through a global multichannel platform;
- D'Ieteren Immo (100% owned): groups together the Belgian real estate interests of D'Ieteren Group.