Edenred: Stifel raises target price
(CercleFinance.com) - Stifel confirms its buy rating on the stock "as we see upside potential from the double-digit organic earnings growth trajectory supported by the strength of the intermediation platform".
The broker raises its target price to E62 (from E56), reflecting stronger revenue growth and FCF generation (excluding any impact from a potential deal with DKV).
"We take a look at the M&A opportunities, with particular focus on DKV Mobility, the European fuel card leader, having been viewed as a potential target by the street," the analyst said.
"Although we have no visibility of any potential deal, we would view any potential acquisition of DKV by Edenred positively, as it would support market consolidation and constitute a major step in strengthening of the overall F&M business, Stifel adds.
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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.
The broker raises its target price to E62 (from E56), reflecting stronger revenue growth and FCF generation (excluding any impact from a potential deal with DKV).
"We take a look at the M&A opportunities, with particular focus on DKV Mobility, the European fuel card leader, having been viewed as a potential target by the street," the analyst said.
"Although we have no visibility of any potential deal, we would view any potential acquisition of DKV by Edenred positively, as it would support market consolidation and constitute a major step in strengthening of the overall F&M business, Stifel adds.
Copyright (c) 2023 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.