Dufry: hope ahead in H2 - Oddo raises target price
(CercleFinance.com) - While Dufry AG's Q4 proved to be very poor, Oddo believes that the H1 2021 will also "probably" be bad, although possibly to a lesser extent.
The broker says that the publication of FY 2020 results is unlikely to bring any major surprises. For the full year, analysts expect revenues to tumble 70% y-o-y, including a 74% dive in Q4.
However, the broker says that there is reason for hope for the second half of the year, stressing that Dufry's commercial momentum and positioning should enable it to benefit from the recovery in air traffic in H2.
All said, the broker is maintaining its "neutral" rating on the Dufry share, while raising its target price for it from 38 Swiss francs to 55 Swiss francs (current price: 64 Swiss francs).
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The broker says that the publication of FY 2020 results is unlikely to bring any major surprises. For the full year, analysts expect revenues to tumble 70% y-o-y, including a 74% dive in Q4.
However, the broker says that there is reason for hope for the second half of the year, stressing that Dufry's commercial momentum and positioning should enable it to benefit from the recovery in air traffic in H2.
All said, the broker is maintaining its "neutral" rating on the Dufry share, while raising its target price for it from 38 Swiss francs to 55 Swiss francs (current price: 64 Swiss francs).
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.