Edenred: Stifel maintains buy rating after FY results

(CercleFinance.com) - Stifel confirms its "buy" recommendation on the Edenred share, along with its target price of 58 euros, suggesting investors take advantage of its current price the day after the share came under pressure when it announced cautious targets for 2021.


"Short term, the 'reopening' potential remains underestimated in our view, and we see room for positive surprise once restrictions are lifted", the broker says in its report on the prepaid service voucher provider.

In the medium term, Stifel considers the investment case to be intact with significant sustainable growth, in particular benefiting from the new post-Covid-19 trends and the strategy of growth sources through the deployment of adjacent services.

Possibly focusing on the cautious targets provided by the group, the market doesn't seem to share Stiffel's opinion - at least not today - the Edenred share is down over 2.5% on Wednesday afternoon.


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