Sixt: Commerzbank a buyer; ups target price
(CercleFinance.com) - Sixt's sale of its DriveNow stake for 210 million euros is well above Commerzbank's estimate of 125 million euros.
Expecting further growth in Sixt's rental car business, with more profitable rental expansion, the broker maintains its "buy" rating on the stock, thanks to revenue growth abroad, market share gains and further cost savings.
Raising its EBT estimates by 3/6%, Commerzbank has hence increased its target price from 85 euros to 92 euros.
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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.
Expecting further growth in Sixt's rental car business, with more profitable rental expansion, the broker maintains its "buy" rating on the stock, thanks to revenue growth abroad, market share gains and further cost savings.
Raising its EBT estimates by 3/6%, Commerzbank has hence increased its target price from 85 euros to 92 euros.
Copyright (c) 2018 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.