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Edenred: Stifel still a buyer, targets E68

( - On Tuesday, Stifel renewed its buy recommendation on Edenred shares, with a target price of E68 (cp: E50, +1.
2%)), citing a successful start to the year for the inventor of the meal voucher.

The broker, which spoke with the group's management, expressed a "positive" message, similar to the comments that underpinned the publication of its 2023 results last month.

Underlying sales momentum remains favourable across all geographic regions and business lines, underpinned by the successful execution of our strategy, in line with our forecasts, the broker says.

Stifel adds however, that the group has warned that currency effects are likely to continue to penalise its performance, notably due to the recent devaluation of the Argentine peso.

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