Verallia: Barclays initiates with 'overweight' rating
(CercleFinance.com) - Barclays initiates its coverage of the Verallia share with an "overweight" rating and a target price of 31.
5 euros, seeing the glass packaging manufacturer as having an attractive earnings growth profile (about +13% p.a. for EPS over 2018- 22).
"The market is attractive due to a combination of volume growth, a shortage of supply and a consolidated market structure with a fragmented customer base," the broker says in its comments.
Barclays adds that Verallia, "with c60% sales in wine & spirits and more flexible production capability, is more exposed to premium and export markets, which are the faster-growing segments".
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