Elis: Oddo still says buy
(CercleFinance.com) - Oddo maintains its Outperform rating on Elis shares, along with its target price of 22 euros.
The broker has raised its 2023 EPS estimates by 3.6%.
The improvement in profitability and FCF generation demonstrates the resilience of Elis' business model, it says.
In addition, the stock's valuation remains limited (EV/EBIT: discount of nearly 30%) with a 2024e FCF yield of nearly 7% and a P/E of 10x.
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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 has raised its 2023 EPS estimates by 3.6%.
The improvement in profitability and FCF generation demonstrates the resilience of Elis' business model, it says.
In addition, the stock's valuation remains limited (EV/EBIT: discount of nearly 30%) with a 2024e FCF yield of nearly 7% and a P/E of 10x.
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.