Europcar: buy target raised by SocGen to 15.6 euros.
(CercleFinance.com) - Société Générale (SocGen) has increased its target price by close to 15% on the Europcar Group share on the eve of the publication of its half-yearly accounts.
The target price goes from 13.6 euros to 15.6 euros, confirming the “buy” recommendation.
Analysts first took account of the “increase in [their] earnings estimates as [they] added recently acquired Goldcar to [their] model”.
Moreover, in view of the interim accounts expected tomorrow, SocGen anticipates organic growth in the second quarter of 4.5% in Europcar sales, and a 5% increase in adjusted EBITDA.
Finally, SocGen reaps the benefits in terms of sectoral valuations of the “rise in peer multiples” such as Sixt, Avis and Hertz (+42% on average since the end of May).
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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 target price goes from 13.6 euros to 15.6 euros, confirming the “buy” recommendation.
Analysts first took account of the “increase in [their] earnings estimates as [they] added recently acquired Goldcar to [their] model”.
Moreover, in view of the interim accounts expected tomorrow, SocGen anticipates organic growth in the second quarter of 4.5% in Europcar sales, and a 5% increase in adjusted EBITDA.
Finally, SocGen reaps the benefits in terms of sectoral valuations of the “rise in peer multiples” such as Sixt, Avis and Hertz (+42% on average since the end of May).
Copyright (c) 2017 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.