Compass: Credit Suisse 'top pick' in European catering
(CercleFinance.com) - Credit Suisse has started to cover the Compass share with an "outperform" rating, saying that the world's biggest catering company deserves a "larger premium.
In a note to clients, the broker said that the stock seems least at risk given its 13% derating since 10 February, which it says represents an "opportunity."
The share trades on 16x 2022e P/E, an 18% discount to its 2018/19 average, and an "attractive" level compared to French rival Sodexo, it added.
Its 1,800 pence target price implies 53% potential upside.
Compass is currently Credit Suisse's top pick in European catering.
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