Worldline: Invest Securities reduces target price
(CercleFinance.com) - The analyst says that the share has suffered following the publication of Q2 2021 results from uncertainties surrounding the sale of its Terminals business, having fallen by 22% since the end of July.
Analysts believe that this sale remains the main catalyst for the share and management's ST priority, so that it can present its MT outlook on 27 October, which is solely based on its payment services businesses. Once refocused and deleveraged, the stock will resume growth (organic growth of over 5%, leverage on the EBITDA margin, accretive effect of acquisitions and associated synergies), Invest Securities says.
The analyst maintains a buy rating on the share, albeit with a lower target price of 84 euros (against 96 euros), due to an increased WACC.
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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.
Analysts believe that this sale remains the main catalyst for the share and management's ST priority, so that it can present its MT outlook on 27 October, which is solely based on its payment services businesses. Once refocused and deleveraged, the stock will resume growth (organic growth of over 5%, leverage on the EBITDA margin, accretive effect of acquisitions and associated synergies), Invest Securities says.
The analyst maintains a buy rating on the share, albeit with a lower target price of 84 euros (against 96 euros), due to an increased WACC.
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.