Elis: Berenberg upgrades to 'buy'
(CercleFinance.com) - German broker Berenberg has upgraded its hold rating on the share of the industrial launderer Elis to “buy”.
Analysts say that investors should take advantage of the stock's recent weakness and have adopted a target price of 23.5 euros.
According to a research report, the fall in the share price, which has reached 14% over the past three months, offers an entry opportunity.
Admittedly, Berenberg has slightly increased its forecasts for depreciation and amortisation, resulting in a 2% to 4% reduction in operating profit projections, with EPS estimates cut by 3% to 9%.
However, analysts believe that the share's fall is excessive and that its upside potential justifies a more aggressive rating.
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.
Analysts say that investors should take advantage of the stock's recent weakness and have adopted a target price of 23.5 euros.
According to a research report, the fall in the share price, which has reached 14% over the past three months, offers an entry opportunity.
Admittedly, Berenberg has slightly increased its forecasts for depreciation and amortisation, resulting in a 2% to 4% reduction in operating profit projections, with EPS estimates cut by 3% to 9%.
However, analysts believe that the share's fall is excessive and that its upside potential justifies a more aggressive rating.
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.