Dufry: Oddo raises its price target
(CercleFinance.com) - This Wednesday morning, Oddo announces that it maintains its 'Buy' recommendation for the Dufry share, and raises its target price to 165 Swiss francs (from 160 CHF previously), based on positive results for the first quarter of 2018.
The Swiss duty-free shop operator has improved its operating margin by 100 basis points to 10.1% for revenues of 1.82 billion Swiss francs, driven by an organic growth of 7.1%. It has also reduced its net losses to -47.5 million Swiss francs for the first three months of 2018, compared to -60.8 million last year.
“Although some fundamental questions remain, the duration of the group's portfolio has reached 8 years and the momentum in air traffic offers short-term support. Dufry's upside potential therefore remains solid and its position as a 'market leader' gives it certain competitive edge”, says Oddo.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The Swiss duty-free shop operator has improved its operating margin by 100 basis points to 10.1% for revenues of 1.82 billion Swiss francs, driven by an organic growth of 7.1%. It has also reduced its net losses to -47.5 million Swiss francs for the first three months of 2018, compared to -60.8 million last year.
“Although some fundamental questions remain, the duration of the group's portfolio has reached 8 years and the momentum in air traffic offers short-term support. Dufry's upside potential therefore remains solid and its position as a 'market leader' gives it certain competitive edge”, says Oddo.
Copyright (c) 2018 CercleFinance.com. All rights reserved.