Worldline: Invest Securities still a buyer, but cuts TP
(CercleFinance.com) - Invest Securities maintains its "buy" rating on Worldline shares, while reducing its target price for them from E56 to E46, adopting a more cautious scenario for 2024-25 and incorporating the new interest rate paradigm in its DCF valuation.
Unlike other companies on which analysts have concerns regarding the end of the year, Worldline should achieve the lower end of its 2023 target range, with a Q3 in line with H1.
While the upside potential with its new target price remains huge (+85%), the analyst is unable to identify any catalysts that could trigger a rerating, as the sector in Europe arouses total indifference from investors.
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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.
Unlike other companies on which analysts have concerns regarding the end of the year, Worldline should achieve the lower end of its 2023 target range, with a Q3 in line with H1.
While the upside potential with its new target price remains huge (+85%), the analyst is unable to identify any catalysts that could trigger a rerating, as the sector in Europe arouses total indifference from investors.
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.